BioMarin Pharmaceutical (BMRN) – Research Analysts’ Recent Ratings Updates

Posted by Doug Madison on Jul 30th, 2024

BioMarin Pharmaceutical (NASDAQ: BMRN) recently received a number of ratings updates from brokerages and research firms:

7/30/2024 – BioMarin Pharmaceutical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
7/25/2024 – BioMarin Pharmaceutical had its “hold” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $89.00 price target on the stock.
7/22/2024 – BioMarin Pharmaceutical had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $110.00 price target on the stock.
7/22/2024 – BioMarin Pharmaceutical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
6/27/2024 – BioMarin Pharmaceutical had its price target raised by analysts at Wells Fargo & Company from $110.00 to $115.00. They now have an “overweight” rating on the stock.

BioMarin Pharmaceutical Trading Up 0.4 %

BioMarin Pharmaceutical stock traded up $0.32 during trading hours on Tuesday, reaching $84.39. 1,022,542 shares of the company’s stock traded hands, compared to its average volume of 1,883,290. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. BioMarin Pharmaceutical Inc. has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 78.87, a PEG ratio of 1.20 and a beta of 0.32. The firm’s 50 day moving average is $81.89 and its 200-day moving average is $85.31.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP George Eric Davis sold 1,850 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George Eric Davis sold 1,850 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,700 shares of company stock worth $5,209,352. Company insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the business. AMI Asset Management Corp increased its stake in BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock worth $30,236,000 after purchasing an additional 118,230 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after purchasing an additional 59,760 shares in the last quarter. International Assets Investment Management LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $3,598,000. ING Groep NV bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $20,248,000. Finally, Fisher Asset Management LLC bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $1,301,000. 98.71% of the stock is owned by institutional investors.

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.