Royal Bank of Canada reaffirmed their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note issued to investors on Tuesday. Royal Bank of Canada currently has a $94.00 price target on the biotechnology company’s stock.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating and set a $101.00 target price for the company in a research note on Tuesday, January 16th. Piper Jaffray Companies reiterated a buy rating and issued a $114.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. SunTrust Banks lifted their target price on shares of BioMarin Pharmaceutical to $130.00 and gave the stock a buy rating in a research note on Monday, December 11th. JPMorgan Chase & Co. set a $131.00 target price on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Monday, November 27th. Finally, Deutsche Bank set a $124.00 price target on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $111.32.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at $83.01 on Tuesday. The company has a market cap of $14,797.12, a P/E ratio of -123.90 and a beta of 1.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical has a 12 month low of $78.50 and a 12 month high of $100.51.
Several large investors have recently bought and sold shares of BMRN. American Century Companies Inc. increased its holdings in BioMarin Pharmaceutical by 49.8% in the 4th quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock worth $82,104,000 after acquiring an additional 305,900 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth $22,892,000. TCW Group Inc. increased its holdings in BioMarin Pharmaceutical by 20.1% in the 3rd quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock worth $99,862,000 after acquiring an additional 179,879 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in BioMarin Pharmaceutical by 17.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after acquiring an additional 164,788 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in BioMarin Pharmaceutical by 33.7% in the 4th quarter. Millennium Management LLC now owns 634,864 shares of the biotechnology company’s stock worth $56,611,000 after acquiring an additional 160,132 shares in the last quarter. 98.77% of the stock is owned by hedge funds and other institutional investors.
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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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