BioMarin Pharmaceutical (NASDAQ:BMRN) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) in a research report released on Thursday. The firm issued a hold rating on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Oppenheimer downgraded shares of BioMarin Pharmaceutical from an outperform rating to a market perform rating in a report on Wednesday, February 22nd. Citigroup initiated coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, February 21st. They issued a neutral rating and a $116.00 price objective on the stock. Canaccord Genuity Group lowered their price objective on shares of BioMarin Pharmaceutical from $119.00 to $112.00 and set a hold rating on the stock in a report on Tuesday, February 28th. Bank of America boosted their target price on shares of BioMarin Pharmaceutical to $200.00 in a report on Wednesday, January 4th. Finally, Stifel Nicolaus boosted their target price on shares of BioMarin Pharmaceutical from $114.00 to $118.00 and gave the stock a buy rating in a report on Tuesday, February 28th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $120.11.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $91.67 on Thursday. The company has a quick ratio of 3.15, a current ratio of 4.67 and a debt-to-equity ratio of 0.24. BioMarin Pharmaceutical has a 12-month low of $70.73 and a 12-month high of $117.77. The company has a market capitalization of $17.10 billion, a PE ratio of 123.88 and a beta of 0.39. The firm’s 50 day moving average is $106.01 and its 200-day moving average is $97.62.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 49,000 shares of the company’s stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the transaction, 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 filing with the SEC, which is available through the SEC website. In other news, EVP Jeffrey Robert Ajer sold 49,000 shares of the business’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $115.70, for a total value of $5,669,300.00. Following the completion of the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at $4,753,881.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Mueller sold 2,500 shares of the business’s stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $114.50, for a total transaction of $286,250.00. Following the completion of the sale, the chief financial officer now directly owns 27,746 shares of the company’s stock, valued at approximately $3,176,917. The disclosure for this sale can be found here. Insiders have sold a total of 115,500 shares of company stock worth $12,607,900 over the last ninety days. Insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the business. TCI Wealth Advisors Inc. boosted its position in shares of BioMarin Pharmaceutical by 68.0% in the fourth quarter. TCI Wealth Advisors Inc. now owns 247 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Altshuler Shaham Ltd bought a new stake in BioMarin Pharmaceutical during the third quarter worth about $25,000. ICA Group Wealth Management LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $31,000. Grey Fox Wealth Advisors LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $31,000. Finally, MayTech Global Investments LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $36,000. Institutional investors own 96.26% of the company’s stock.

About BioMarin Pharmaceutical

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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.