BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $112.00 at Stifel Nicolaus

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lifted by analysts at Stifel Nicolaus from $108.00 to $112.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 29.78% from the stock’s current price.

A number of other brokerages have also recently weighed in on BMRN. Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Scotiabank boosted their price objective on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday, April 25th. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday. Canaccord Genuity Group restated a “hold” rating and issued a $89.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. Finally, Evercore ISI increased their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.63.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $86.30 on Tuesday. The stock’s 50 day simple moving average is $82.88 and its 200 day simple moving average is $84.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The stock has a market cap of $16.39 billion, a P/E ratio of 80.65, a P/E/G ratio of 1.20 and a beta of 0.32. BioMarin Pharmaceutical has a 1-year low of $73.68 and a 1-year high of $99.56.

Insider Transactions at BioMarin Pharmaceutical

In related news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in shares of BioMarin Pharmaceutical by 2.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock valued at $550,000 after purchasing an additional 115 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after buying an additional 130 shares during the last quarter. First Horizon Advisors Inc. grew its stake in BioMarin Pharmaceutical by 33.3% during the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after buying an additional 144 shares during the last quarter. Quent Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after acquiring an additional 153 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.