BMO Capital Markets initiated coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) in a research report released on Monday morning, The Fly reports. The brokerage issued a market perform rating and a $107.00 price target on the biotechnology company's stock.
BMRN has been the topic of several other reports. StockNews.com assumed coverage on BioMarin Pharmaceutical in a report on Wednesday, October 12th. They set a buy rating on the stock. Morgan Stanley raised their price target on shares of BioMarin Pharmaceutical from $113.00 to $132.00 and gave the company an overweight rating in a report on Tuesday, January 24th. Evercore ISI boosted their price objective on shares of BioMarin Pharmaceutical to $130.00 in a report on Friday, December 2nd. Guggenheim raised their target price on BioMarin Pharmaceutical from $120.00 to $125.00 in a research note on Monday, January 9th. Finally, Canaccord Genuity Group began coverage on BioMarin Pharmaceutical in a research report on Wednesday, January 18th. They set a hold rating and a $119.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $119.39.
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BioMarin Pharmaceutical Stock Down 2.2 %
Shares of BioMarin Pharmaceutical stock opened at $114.70 on Monday. BioMarin Pharmaceutical has a twelve month low of $70.73 and a twelve month high of $117.77. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of 274.00 and a beta of 0.36. 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 fifty day moving average price of $105.75 and a 200 day moving average price of $94.50.
Insider Activity
In other news, EVP Jeffrey Robert Ajer sold 49,000 shares of the company's stock in a transaction that occurred on Wednesday, January 25th. The stock was 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 directly owns 41,088 shares of the company's stock, valued at $4,753,881.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through
the SEC website. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm's stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $115.70, for a total value of $5,669,300.00. Following the sale, the executive vice president now directly owns 41,088 shares in the company, valued at $4,753,881.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through
this link. Also, CFO Brian Mueller sold 5,379 shares of the company's stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $98.73, for a total transaction of $531,068.67. Following the transaction, the chief financial officer now owns 28,847 shares of the company's stock, valued at approximately $2,848,064.31. The disclosure for this sale can be found
here. In the last three months, insiders sold 91,880 shares of company stock valued at $10,246,193. Company insiders own 1.75% of the company's stock.
Institutional Investors Weigh In On BioMarin Pharmaceutical
Hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at about $25,000. Quadrant Capital Group LLC raised its position in shares of BioMarin Pharmaceutical by 188.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company's stock worth $29,000 after buying an additional 232 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 344 shares during the period. Capital Wealth Alliance LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $34,000. Finally, Baystate Wealth Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $41,000. Institutional investors own 96.26% of the company's stock.
About BioMarin Pharmaceutical
(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.
Further Reading
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