BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) had its price target lifted by equities researchers at Credit Suisse Group to $111.00 in a research report issued on Tuesday, Stock Target Advisor reports. Credit Suisse Group's price objective suggests a potential upside of 15.63% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, May 4th. Cantor Fitzgerald initiated coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 12th. They set an "overweight" rating and a $110.00 price objective on the stock. Piper Sandler upped their target price on BioMarin Pharmaceutical from $125.00 to $128.00 and gave the stock an "overweight" rating in a research report on Tuesday. Robert W. Baird reiterated an "outperform" rating and set a $112.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, June 28th. Finally, StockNews.com raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $110.93.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $96.00 on Tuesday. The company has a current ratio of 5.42, a quick ratio of 3.69 and a debt-to-equity ratio of 0.24. The business's 50 day moving average is $83.95 and its 200-day moving average is $82.44. The stock has a market cap of $17.81 billion, a PE ratio of 369.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.33. BioMarin Pharmaceutical has a twelve month low of $70.73 and a twelve month high of $97.76.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 6,205 shares of the company's stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $96.56, for a total value of $599,154.80. Following the completion of the sale, the executive vice president now owns 42,168 shares in the company, valued at approximately $4,071,742.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Charles Greg Guyer sold 6,205 shares of the company's stock in a transaction on Monday, August 8th. The stock was sold at an average price of $96.56, for a total transaction of $599,154.80. Following the transaction, the executive vice president now directly owns 42,168 shares of the company's stock, valued at $4,071,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of the firm's stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $78.94, for a total value of $103,253.52. Following the sale, the executive vice president now owns 54,109 shares of the company's stock, valued at $4,271,364.46. The disclosure for this sale can be found here. Insiders have sold a total of 22,248 shares of company stock valued at $2,024,890 over the last ninety days. Corporate insiders own 1.75% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 344 shares in the last quarter. CWM LLC boosted its position in BioMarin Pharmaceutical by 435.2% during the first quarter. CWM LLC now owns 487 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 396 shares during the last quarter. First Horizon Advisors Inc. grew its stake in BioMarin Pharmaceutical by 1,014.6% in the second quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 487 shares in the last quarter. Covington Capital Management increased its position in BioMarin Pharmaceutical by 40.8% in the 2nd quarter. Covington Capital Management now owns 704 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 204 shares during the last quarter. Finally, CKW Financial Group raised its stake in shares of BioMarin Pharmaceutical by 23.1% during the 1st quarter. CKW Financial Group now owns 800 shares of the biotechnology company's stock worth $63,000 after purchasing an additional 150 shares in the last quarter. 95.45% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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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.

Further Reading

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