BMO Capital Markets assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) in a research note published 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.
Several other equities analysts have also issued reports on the company. Evercore ISI raised their price objective on BioMarin Pharmaceutical to $130.00 in a report on Friday, December 2nd. Wedbush increased their target price on shares of BioMarin Pharmaceutical from $74.00 to $83.00 and gave the stock a neutral rating in a research note on Wednesday, January 11th. Morgan Stanley increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $132.00 and gave the stock an overweight rating in a research note on Tuesday, January 24th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and increased their target price for the stock from $92.00 to $110.00 in a research note on Monday, October 31st. Finally, Bank of America increased their target price on shares of BioMarin Pharmaceutical to $200.00 in a research note on Wednesday, January 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $119.39.
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BioMarin Pharmaceutical Stock Performance
Shares of BMRN stock opened at $112.84 on Monday. The stock's 50-day moving average is $107.14 and its two-hundred day moving average is $95.05. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 274.33 and a beta of 0.39. BioMarin Pharmaceutical has a 1 year low of $70.73 and a 1 year high of $117.77. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15.
Insider Activity
In other news, EVP Jeffrey Robert Ajer sold 49,000 shares of BioMarin Pharmaceutical 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 sale, the executive vice president now directly owns 41,088 shares in the company, valued at approximately $4,753,881.60. The transaction was disclosed in a legal filing with the SEC, which is available through
this hyperlink. In other news, CEO Jean Jacques Bienaime sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $103.98, for a total transaction of $155,970.00. Following the completion of the transaction, the chief executive officer now directly owns 321,424 shares of the company's stock, valued at approximately $33,421,667.52. The sale was disclosed in a filing with the SEC, which is available at
the SEC website. Also, EVP Jeffrey Robert Ajer sold 49,000 shares of the firm'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 transaction, the executive vice president now directly owns 41,088 shares of the company's stock, valued at $4,753,881.60. The disclosure for this sale can be found
here. In the last three months, insiders sold 88,880 shares of company stock worth $9,987,833. Company insiders own 1.75% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake 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 during the period. Acadian Asset Management LLC grew its stake in 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 purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $34,000. Finally, Baystate Wealth Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $41,000. 96.26% of the stock is owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
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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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