Royal Bank of Canada reissued their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) 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.
View Our Latest Stock Analysis on BioMarin Pharmaceutical
BioMarin Pharmaceutical Stock Performance
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.
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