Stifel Nicolaus Increases BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $115.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target lifted by analysts at Stifel Nicolaus from $112.00 to $115.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 23.07% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Evercore ISI increased their price target on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group restated a “hold” rating and set a $89.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, July 25th. Scotiabank increased their price target on shares of BioMarin Pharmaceutical from $85.00 to $86.00 and gave the company a “sector perform” rating in a report on Tuesday, August 6th. Citigroup cut their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.26.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN traded down $0.40 during trading hours on Wednesday, reaching $93.44. 901,563 shares of the company’s stock were exchanged, compared to its average volume of 1,844,241. The firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 87.27, a P/E/G ratio of 1.20 and a beta of 0.32. The company has a 50-day moving average of $85.08 and a 200 day moving average of $84.87. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a 1-year low of $73.68 and a 1-year high of $99.56.

Insiders Place Their Bets

In related news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction that occurred on 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 directly owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 56,157 shares in the company, valued at $4,184,258.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the transaction, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $31,000. Quent Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Lindbrook Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.