Stifel Nicolaus Increases BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $115.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price increased by analysts at Stifel Nicolaus from $112.00 to $115.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 23.07% from the company’s current price.

Other analysts also recently issued research reports about the company. Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Sanford C. Bernstein raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $94.00 to $110.00 in a research note on Tuesday. Wells Fargo & Company lifted their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, TD Cowen decreased their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $105.26.

BioMarin Pharmaceutical Stock Down 0.4 %

BMRN traded down $0.40 during trading on Wednesday, hitting $93.44. 901,563 shares of the company’s stock traded hands, compared to its average volume of 1,844,241. The company’s 50 day simple moving average is $85.08 and its two-hundred day simple moving average is $84.87. The company has a current ratio of 2.74, a quick ratio of 1.70 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. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of 87.27, a PEG ratio of 1.20 and a beta of 0.32.

Insider Activity at BioMarin Pharmaceutical

In other news, CFO Brian Mueller sold 5,000 shares of the 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 owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brian Mueller sold 5,000 shares of the company’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 transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Eric Davis sold 40,850 shares of the company’s 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 completion of 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. 1.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $31,000. Quent Capital LLC grew its holdings in shares of BioMarin Pharmaceutical by 58.9% during the second 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. Lindbrook Capital LLC grew its holdings in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake 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 buying an additional 249 shares during the period. 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.