BioMarin Pharmaceutical (NASDAQ:BMRN – Get Assessment) saw its price target raised by Barclays stock research analysts from $112.00 to $125.00 in a research report released on Thursday, reports The Fly. The company currently has an “overweight” rating on shares of the biotech company. Barclays’ target price would indicate a potential upside of 37.73% from the current share price.
A number of other research companies have also published reports on BMRN. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $96.00 to $113.00 in a Monday report April 25. Cantor Fitzgerald began coverage of BioMarin Pharmaceutical in a research report on Tuesday, July 12. They issued an “overweight” rating and a target price of $110.00 for the company. Credit Suisse Group raised its price target on BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a Monday, June 6 research report. StockNews.com downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a target price of $100.00 on BioMarin Pharmaceutical shares in a Wednesday, May 4, report. Four research analysts gave the stock a hold rating and ten gave the company a buy rating. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $110.40.
Price performance of BioMarin Pharmaceutical
Shares of NASDAQ BMRN traded at $2.36 during Thursday’s trading, hitting $90.76. The company had a trading volume of 31,112 shares, compared to an average volume of 844,081. BioMarin Pharmaceutical has a 52-week low of $70.73 and a 52-week high of $94.20. The company’s 50-day moving average is $82.23 and its 200-day moving average is $82.13. The company has a market capitalization of $16.79 billion, a P/E ratio of 518.94, a PEG ratio of 1.82 and a beta of 0.33. The company has a debt ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its results on Wednesday, August 3. The biotech company reported EPS of $0.15 for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical achieved a return on equity of 1.36% and a net margin of 2.09%. In the same quarter a year earlier, the company earned $0.23 per share. Equity research analysts expect BioMarin Pharmaceutical to post earnings per share of 0.95 for the current fiscal year.
Separately, Executive Vice President George Eric Davis sold 7,398 shares of the company in a trade on Friday, July 8. The shares were sold at an average price of $90.00, for a total value of $665,820.00. Following the transaction, the executive vice president now directly owns 58,941 shares of the company, valued at approximately $5,304,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Separately, CFO Brian Mueller sold 7,337 shares in a trade that took place on Friday July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the sale, the CFO now directly owns 30,726 shares of the company, valued at $2,749,977. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, Executive Vice President George Eric Davis sold 7,398 shares of the company in a trade on Friday, July 8. The stock was sold at an average price of $90.00, for a total transaction of $665,820.00. Following the transaction, the executive vice president now directly owns 58,941 shares of the company, valued at approximately $5,304,690. The disclosure of this sale can be found here. Insiders sold a total of 16,043 shares of the company valued at $1,425,735 in the past 90 days. 1.75% of the shares are currently held by insiders of the company.
Institutional entries and exits
Institutional investors and hedge funds have recently changed their positions in the stock. Vanguard Group Inc. increased its position in BioMarin Pharmaceutical by 0.9% during the first quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotech company worth $1,272,322,000 after buying an additional 151,212 shares last quarter. Viking Global Investors LP increased its position in shares of BioMarin Pharmaceutical by 30.7% in the 1st quarter. Viking Global Investors LP now owns 3,752,393 shares of the biotech company worth $289,310,000 after acquiring an additional 882,446 shares during the period. Geode Capital Management LLC increased its holdings of BioMarin Pharmaceutical shares by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 2,399,343 shares of the biotech company worth $211,671,000 after purchasing an additional 76,459 shares last quarter. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth $207,582,000. Finally, Adage Capital Partners GP LLC increased its position in BioMarin Pharmaceutical by 372.7% in the fourth quarter. Adage Capital Partners GP LLC now owns 1,865,000 shares of the biotech company worth $164,773,000 after purchasing an additional 1,470,498 shares during the period. Institutional investors hold 95.45% of the company’s shares.
About BioMarin Pharmaceutical
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BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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