SunTrust Banks started coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note released on Tuesday morning, 24/7 WallStreet reports. The brokerage issued a buy rating and a $110.00 target price on the biotechnology company’s stock.
A number of other brokerages have also weighed in on BMRN. Bank of America began coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 16th. They issued a buy rating and a $90.00 target price on the stock. Wedbush raised their target price on shares of BioMarin Pharmaceutical from $128.00 to $152.00 and gave the company an outperform rating in a research report on Friday, October 25th. Stifel Nicolaus set a $108.00 target price on shares of BioMarin Pharmaceutical and gave the company a buy rating in a research report on Friday, September 13th. Citigroup restated a buy rating and issued a $95.00 target price (down previously from $120.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Finally, Nomura cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. BioMarin Pharmaceutical has an average rating of Buy and an average target price of $106.53.
BioMarin Pharmaceutical stock traded down $0.54 during trading hours on Tuesday, hitting $75.04. The company had a trading volume of 1,980,500 shares, compared to its average volume of 1,602,160. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53. The firm has a market cap of $13.68 billion, a PE ratio of -227.39, a PEG ratio of 144.20 and a beta of 1.30. The firm has a 50-day moving average of $70.21 and a 200 day moving average of $77.91. BioMarin Pharmaceutical has a one year low of $62.88 and a one year high of $100.13.
In other news, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, October 25th. The shares were sold at an average price of $69.55, for a total transaction of $347,750.00. Following the transaction, the chief executive officer now owns 332,520 shares in the company, valued at $23,126,766. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total transaction of $279,262.50. Following the transaction, the director now owns 27,340 shares in the company, valued at approximately $2,036,009.80. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. BB&T Securities LLC lifted its holdings in shares of BioMarin Pharmaceutical by 4.0% during the second quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock worth $295,000 after purchasing an additional 132 shares during the period. Meeder Asset Management Inc. raised its stake in BioMarin Pharmaceutical by 73.6% during the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after buying an additional 173 shares during the last quarter. Avestar Capital LLC raised its stake in BioMarin Pharmaceutical by 36.9% during the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after buying an additional 202 shares during the last quarter. First Mercantile Trust Co. raised its stake in BioMarin Pharmaceutical by 2.6% during the second quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock worth $695,000 after buying an additional 206 shares during the last quarter. Finally, Doyle Wealth Management bought a new position in BioMarin Pharmaceutical during the second quarter worth $26,000. Institutional investors own 97.62% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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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