BidaskClub upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a strong sell rating to a sell rating in a research report released on Thursday.
BMRN has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of BioMarin Pharmaceutical from $131.00 to $129.00 and set an outperform rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reissued a hold rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 27th. Goldman Sachs raised shares of BioMarin Pharmaceutical from a buy rating to a conviction-buy rating in a research report on Friday, December 15th. Credit Suisse Group restated an outperform rating and set a $113.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, January 18th. Finally, 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 report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $112.34.
Shares of BioMarin Pharmaceutical stock opened at $78.84 on Thursday. The company has a current ratio of 2.70, a quick ratio of 2.12 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical has a 12-month low of $77.04 and a 12-month high of $100.51. The stock has a market cap of $13,881.52, a price-to-earnings ratio of -117.67 and a beta of 1.74.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 30,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $90.66, for a total value of $2,719,800.00. Following the completion of the sale, the executive vice president now owns 112,942 shares in the company, valued at $10,239,321.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $90.32, for a total transaction of $903,200.00. Following the completion of the transaction, the chief executive officer now directly owns 235,894 shares in the company, valued at $21,305,946.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,013 shares of company stock valued at $11,200,921. Corporate insiders own 1.85% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of BMRN. First Manhattan Co. raised its position in shares of BioMarin Pharmaceutical by 104.2% in the fourth 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 period. Financial Gravity Companies Inc. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $112,000. Commerce Bank bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at about $209,000. IFG Advisory LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $212,000. Finally, Teacher Retirement System of Texas bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at about $220,000.
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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