BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating reissued by equities research analysts at BMO Capital Markets in a research report issued on Friday. They presently have a $125.00 price objective on the biotechnology company’s stock, up from their prior price objective of $119.00. BMO Capital Markets’ price target points to a potential upside of 50.51% from the company’s current price.
BMRN has been the topic of several other research reports. Stifel Nicolaus dropped their price objective on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. BidaskClub lowered BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 20th. JPMorgan Chase & Co. set a $130.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Sunday, October 29th. Goldman Sachs Group upgraded BioMarin Pharmaceutical from a “buy” rating to a “conviction-buy” rating in a research note on Friday, December 15th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $111.28.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at $83.05 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. The stock has a market capitalization of $14,585.33, a P/E ratio of -123.96 and a beta of 1.71. BioMarin Pharmaceutical has a 52 week low of $78.50 and a 52 week high of $100.51.
In related news, Director Elaine J. Heron sold 800 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $88.90, for a total transaction of $71,120.00. Following the sale, the director now owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $84.63, for a total value of $846,300.00. The disclosure for this sale can be found here. Insiders have sold 100,750 shares of company stock worth $9,005,888 in the last three months. 1.85% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of BMRN. Dimensional Fund Advisors LP grew its position in BioMarin Pharmaceutical by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 190,569 shares of the biotechnology company’s stock worth $17,307,000 after buying an additional 2,422 shares in the last quarter. Janus Henderson Group PLC grew its position in BioMarin Pharmaceutical by 49.4% during the second quarter. Janus Henderson Group PLC now owns 33,186 shares of the biotechnology company’s stock worth $3,014,000 after buying an additional 10,976 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in BioMarin Pharmaceutical by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after buying an additional 812 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in BioMarin Pharmaceutical by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after buying an additional 54 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $368,000. 98.77% of the stock is currently owned by institutional investors and hedge funds.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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