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BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $128.00 at Piper Sandler

Defense World ·  Aug 11, 2022 03:11

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.

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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.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.78%. During the same period in the previous year, the company posted $0.23 EPS. Equities analysts forecast that BioMarin Pharmaceutical will post 0.98 EPS for the current fiscal year.

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.

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