BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at BidaskClub
A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research report on Sunday, June 2nd. Wedbush reaffirmed a buy rating and issued a $128.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 28th. Citigroup reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research report on Thursday, May 23rd. TheStreet downgraded BioMarin Pharmaceutical from a c- rating to a d+ rating in a research report on Tuesday, May 7th. Finally, Robert W. Baird set a $120.00 target price on BioMarin Pharmaceutical and gave the company a buy rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $116.00.
BMRN opened at $81.09 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.76 and a current ratio of 3.83. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of -245.73 and a beta of 1.40. BioMarin Pharmaceutical has a 1 year low of $79.13 and a 1 year high of $106.74.
In other BioMarin Pharmaceutical news, SVP Brian Mueller sold 2,953 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $94.00, for a total transaction of $277,582.00. Following the transaction, the senior vice president now owns 13,660 shares of the company’s stock, valued at $1,284,040. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $94.40, for a total value of $377,600.00. Following the transaction, the chief executive officer now directly owns 300,558 shares in the company, valued at approximately $28,372,675.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,815 shares of company stock worth $7,195,608. Company insiders own 1.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Slow Capital Inc. lifted its stake in BioMarin Pharmaceutical by 2.4% during the first quarter. Slow Capital Inc. now owns 7,148 shares of the biotechnology company’s stock worth $635,000 after purchasing an additional 170 shares during the last quarter. Aristeia Capital LLC bought a new stake in BioMarin Pharmaceutical during the first quarter worth $3,447,000. Covenant Partners LLC bought a new stake in BioMarin Pharmaceutical during the first quarter worth $274,000. CWM Advisors LLC lifted its stake in BioMarin Pharmaceutical by 70.6% during the first quarter. CWM Advisors LLC now owns 5,049 shares of the biotechnology company’s stock worth $449,000 after purchasing an additional 2,089 shares during the last quarter. Finally, RMB Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 4.2% during the first quarter. RMB Capital Management LLC now owns 3,697 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 148 shares during the last quarter. 98.54% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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