BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Reiterated by Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note released on Tuesday morning, Benzinga reports. They currently have a $100.00 target price on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on BMRN. StockNews.com raised shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Tuesday, July 30th. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an outperform rating to a neutral rating and lowered their price target for the company from $104.00 to $72.00 in a report on Friday, May 17th. Morgan Stanley lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an overweight rating on the stock in a report on Friday, April 26th. Evercore ISI upped their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday. Finally, Canaccord Genuity Group reaffirmed a hold rating and issued a $89.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and a consensus price target of $103.63.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded up $0.74 on Tuesday, hitting $88.64. The company’s stock had a trading volume of 1,364,074 shares, compared to its average volume of 1,875,349. The firm has a market cap of $16.83 billion, a P/E ratio of 82.84, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $83.65 and a 200-day moving average price of $84.93. BioMarin Pharmaceutical has a one year low of $73.68 and a one year high of $99.56.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMRN. AMI Asset Management Corp raised its position in shares of BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after acquiring an additional 118,230 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of BioMarin Pharmaceutical by 7,368.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after acquiring an additional 59,760 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $3,598,000. ING Groep NV acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $20,248,000. Finally, Fisher Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $1,301,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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.