BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at StockNews.com

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a hold rating to a buy rating in a report issued on Tuesday.

BMRN has been the topic of several other research reports. Baird R W cut BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Friday, May 17th. Robert W. Baird lowered shares of BioMarin Pharmaceutical from an outperform rating to a neutral rating and decreased their target price for the stock from $104.00 to $72.00 in a research report on Friday, May 17th. Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They issued an outperform rating and a $113.00 price target for the company. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an overweight rating for the company in a research note on Friday, April 26th. Finally, Wells Fargo & Company raised their price objective on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $102.00.

BioMarin Pharmaceutical Trading Down 0.5 %

Shares of NASDAQ:BMRN opened at $84.20 on Tuesday. The stock has a market cap of $15.99 billion, a PE ratio of 78.69, a P/E/G ratio of 1.20 and a beta of 0.32. The business has a 50 day moving average of $82.53 and a 200-day moving average of $85.18. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a 12-month low of $73.68 and a 12-month high of $99.56.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP George Eric Davis sold 40,850 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,184,258.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 65,850 shares of company stock valued at $5,052,084. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. Lindbrook Capital LLC grew its position in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 278 shares in the last quarter. Quent Capital LLC lifted its position in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $43,000. 98.71% of the stock is owned by institutional investors.

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.