BMO Capital Markets began coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) in a research report report published on Monday, The Fly reports. The brokerage issued a market perform rating and a $107.00 price objective on the biotechnology company's stock.
Several other equities analysts also recently commented on BMRN. Royal Bank of Canada increased their target price on shares of BioMarin Pharmaceutical from $90.00 to $95.00 and gave the stock a sector perform rating in a research report on Thursday, October 13th. Canaccord Genuity Group began coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, January 18th. They set a hold rating and a $119.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 in a report on Wednesday, October 12th. JPMorgan Chase & Co. reduced their price objective on shares of BioMarin Pharmaceutical from $140.00 to $112.00 and set an overweight rating on the stock in a research note on Monday, October 24th. Finally, Credit Suisse Group reduced their price target on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an outperform rating on the stock in a research report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $119.39.
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BioMarin Pharmaceutical Trading Up 1.2 %
NASDAQ BMRN opened at $116.71 on Monday. BioMarin Pharmaceutical has a 1-year low of $70.73 and a 1-year high of $117.77. The company has a current ratio of 5.15, a quick ratio of 3.54 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $21.65 billion, a PE ratio of 277.64 and a beta of 0.36. The firm's fifty day simple moving average is $106.76 and its 200-day simple moving average is $94.90.
Insider Activity at BioMarin Pharmaceutical
In related news, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm's stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total transaction of $5,669,300.00. Following the completion of the sale, the executive vice president now owns 41,088 shares in the company, valued at $4,753,881.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
this link. In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, January 13th. The shares were sold at an average price of $112.25, for a total value of $1,122,500.00. Following the completion of the transaction, the chief executive officer now directly owns 320,424 shares in the company, valued at $35,967,594. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through
this hyperlink. Also, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total transaction of $5,669,300.00. Following the completion of the transaction, the executive vice president now owns 41,088 shares of the company's stock, valued at $4,753,881.60. The disclosure for this sale can be found
here. Insiders have sold 88,880 shares of company stock valued at $9,987,833 over the last ninety days. Corporate insiders own 1.75% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $25,000. Quadrant Capital Group LLC increased its holdings in BioMarin Pharmaceutical by 188.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 232 shares in the last quarter. Baystate Wealth Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $41,000. Acadian Asset Management LLC grew its holdings in 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 buying an additional 344 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in BioMarin Pharmaceutical by 1,014.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company's stock valued at $43,000 after buying an additional 487 shares in the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
(Get Rating)
BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.
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