Sanford C. Bernstein Upgrades BioMarin Pharmaceutical (NASDAQ:BMRN) to Outperform

Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a market perform rating to an outperform rating in a research note published on Tuesday morning, MarketBeat Ratings reports. Sanford C. Bernstein currently has $110.00 price objective on the biotechnology company’s stock, up from their prior price objective of $94.00.

Other analysts have also issued research reports about the company. Scotiabank increased their price objective on BioMarin Pharmaceutical from $85.00 to $86.00 and gave the company a sector perform rating in a research note on Tuesday, August 6th. Baird R W downgraded shares of BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a report on Friday, May 17th. Barclays reduced their price objective on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus lifted their target price on shares of BioMarin Pharmaceutical from $108.00 to $112.00 and gave the stock a buy rating in a research note on Tuesday, August 6th. Finally, Cantor Fitzgerald reissued an overweight rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of Moderate Buy and a consensus target price of $105.26.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $90.02 on Tuesday. The stock’s 50 day moving average price is $85.48 and its 200 day moving average price is $84.97. The firm has a market cap of $17.09 billion, a P/E ratio of 84.13, a PEG ratio of 1.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. BioMarin Pharmaceutical has a 1 year low of $73.68 and a 1 year high of $99.56.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the transaction, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $31,000. Quent Capital LLC raised its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Lindbrook Capital LLC boosted its stake in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.