BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lowered by Morgan Stanley from $115.00 to $112.00 in a research report released on Friday morning. The firm currently has an overweight rating on the biotechnology company’s stock.
A number of other research analysts also recently commented on the company. SunTrust Banks increased their price objective on BioMarin Pharmaceutical to $130.00 and gave the company a buy rating in a report on Monday, December 11th. Goldman Sachs Group upgraded BioMarin Pharmaceutical from a buy rating to a conviction-buy rating in a report on Friday, December 15th. BidaskClub downgraded BioMarin Pharmaceutical from a sell rating to a strong sell rating in a report 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 report on Sunday, October 29th. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a hold rating to a buy rating and set a $101.00 price objective on the stock in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $111.28.
BioMarin Pharmaceutical (BMRN) opened at $83.05 on Friday. BioMarin Pharmaceutical has a 1-year low of $78.50 and a 1-year high of $100.51. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41.
Several hedge funds have recently made changes to their positions in BMRN. First Manhattan Co. grew its stake in shares of BioMarin Pharmaceutical by 104.2% in the 4th quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after purchasing an additional 625 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $112,000. Toronto Dominion Bank grew its stake in shares of BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 243 shares during the last quarter. Commerce Bank purchased a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $209,000. Finally, IFG Advisory LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $212,000. Institutional investors own 98.77% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “BioMarin Pharmaceutical (BMRN) Price Target Lowered to $112.00 at Morgan Stanley” was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.tickerreport.com/banking-finance/3223196/biomarin-pharmaceutical-bmrn-price-target-lowered-to-112-00-at-morgan-stanley.html.
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).
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.