Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) PT at $103.63

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $105.26.

Several analysts recently issued reports on BMRN shares. Canaccord Genuity Group reiterated a “hold” rating and set a $89.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. TD Cowen cut their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. Morgan Stanley cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of the business’s 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 transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. AMI Asset Management Corp boosted its stake in BioMarin Pharmaceutical by 51.9% in the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after buying an additional 118,230 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of BioMarin Pharmaceutical by 7,368.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after acquiring an additional 59,760 shares during the last quarter. ING Groep NV acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $20,248,000. Fisher Asset Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $1,301,000. Finally, APG Asset Management US Inc. acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $3,462,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

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

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.