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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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
(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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