BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) had its target price boosted by equities research analysts at Piper Sandler from $125.00 to $128.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's target price would suggest a potential upside of 33.33% from the stock's previous close.

BMRN has been the topic of a number of other reports. Wedbush restated a "hold" rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, June 24th. Stifel Nicolaus restated a "buy" rating and issued a $96.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 3rd. Credit Suisse Group lifted their target price on shares of BioMarin Pharmaceutical from $105.00 to $106.00 and gave the stock an "outperform" rating in a research note on Monday, June 6th. Morgan Stanley lifted their target price on shares of BioMarin Pharmaceutical from $113.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, August 4th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $110.93.

BioMarin Pharmaceutical Trading Up 0.3 %

NASDAQ BMRN opened at $96.00 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.69 and a current ratio of 5.42. The company has a market capitalization of $17.81 billion, a price-to-earnings ratio of 369.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.33. The company's 50-day simple moving average is $83.95 and its two-hundred day simple moving average is $82.44. BioMarin Pharmaceutical has a one year low of $70.73 and a one year high of $97.76.

Insider Activity

In other news, EVP Charles Greg Guyer sold 6,205 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $96.56, for a total transaction of $599,154.80. Following the completion of the transaction, the executive vice president now directly owns 42,168 shares of the company's stock, valued at approximately $4,071,742.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Charles Greg Guyer sold 6,205 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $96.56, for a total transaction of $599,154.80. Following the completion of the transaction, the executive vice president now directly owns 42,168 shares of the company's stock, valued at approximately $4,071,742.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $78.94, for a total transaction of $103,253.52. Following the transaction, the executive vice president now directly 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 sold a total of 22,248 shares of company stock valued at $2,024,890 in the last three months. 1.75% of the stock is currently owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth about $1,811,000. Yousif Capital Management LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $228,000. Dupont Capital Management Corp purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $113,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in BioMarin Pharmaceutical by 6.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 563,683 shares of the biotechnology company's stock valued at $49,801,000 after acquiring an additional 34,324 shares during the period. Finally, First National Trust Co grew its position in BioMarin Pharmaceutical by 7.1% during the fourth quarter. First National Trust Co now owns 76,985 shares of the biotechnology company's stock valued at $6,801,000 after acquiring an additional 5,129 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

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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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