Wedbush reiterated their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note issued to investors on Wednesday, 24/7 WallStreet reports. They currently have a $128.00 price objective on the biotechnology company’s stock.
A number of other brokerages have also weighed in on BMRN. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, July 4th. Citigroup lowered shares of Barrick Gold to a neutral rating in a report on Thursday, May 23rd. Robert W. Baird set a $120.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a report on Friday, April 26th. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Thursday, March 21st. Finally, TheStreet upgraded shares of Rent-A-Center from a c rating to a b- rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $115.54.
Shares of BioMarin Pharmaceutical stock opened at $82.95 on Wednesday. BioMarin Pharmaceutical has a 1 year low of $79.13 and a 1 year high of $106.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76. The company’s 50 day moving average is $83.82.
In related news, CEO Jean Jacques Bienaime sold 3,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 26th. The shares were sold at an average price of $82.88, for a total value of $248,640.00. Following the transaction, the chief executive officer now directly owns 329,211 shares of the company’s stock, valued at $27,285,007.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Monday, June 17th. The stock was sold at an average price of $81.08, for a total transaction of $304,050.00. Following the completion of the transaction, the director now directly owns 27,340 shares in the company, valued at $2,216,727.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,750 shares of company stock worth $1,706,530. 1.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rational Advisors LLC increased its position in BioMarin Pharmaceutical by 3,211.1% during the 1st quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 289 shares during the period. Commonwealth Bank of Australia increased its position in BioMarin Pharmaceutical by 49.6% during the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. PRW Wealth Management LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at $30,000. Lake Point Wealth Management purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at $34,000. Finally, Twin Tree Management LP purchased a new position in BioMarin Pharmaceutical during the 1st quarter valued at $36,000. 98.48% of the stock is currently owned by 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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