BMRN has been the subject of several other reports. Zacks Investment Research downgraded BioMarin Pharmaceutical from a buy rating to a hold rating in a research report on Tuesday, January 17th. Vetr upgraded BioMarin Pharmaceutical from a hold rating to a buy rating and set a $93.98 target price for the company in a research report on Tuesday, November 29th. Credit Suisse Group started coverage on BioMarin Pharmaceutical in a research report on Monday, January 23rd. They set an outperform rating and a $107.00 target price for the company. Wedbush reiterated a neutral rating and set a $104.00 target price (up from $102.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 28th. Finally, Deutsche Bank AG started coverage on BioMarin Pharmaceutical in a research report on Thursday, November 3rd. They set a buy rating and a $106.00 target price for the company. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical presently has an average rating of Buy and an average target price of $112.09.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 90.13 on Friday. The stock’s market cap is $15.50 billion. BioMarin Pharmaceutical has a 1-year low of $67.07 and a 1-year high of $102.49. The firm has a 50-day moving average of $86.75 and a 200-day moving average of $89.66.
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In other news, CEO Jean Jacques Bienaime sold 69,744 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $87.56, for a total transaction of $6,106,784.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel K. Spiegelman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the chief financial officer now directly owns 18,100 shares of the company’s stock, valued at $1,629,000. The disclosure for this sale can be found here. Insiders sold 178,487 shares of company stock valued at $15,476,622 over the last three months. 2.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in BioMarin Pharmaceutical by 27.5% in the third quarter. Capital Research Global Investors now owns 20,216,215 shares of the company’s stock valued at $1,870,404,000 after buying an additional 4,362,912 shares in the last quarter. Jennison Associates LLC increased its position in BioMarin Pharmaceutical by 7.2% in the third quarter. Jennison Associates LLC now owns 9,702,200 shares of the company’s stock valued at $897,648,000 after buying an additional 650,956 shares in the last quarter. Chartwell Investment Partners LLC purchased a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $57,328,000. Palo Alto Investors LLC increased its position in BioMarin Pharmaceutical by 29.6% in the second quarter. Palo Alto Investors LLC now owns 1,737,399 shares of the company’s stock valued at $135,170,000 after buying an additional 397,052 shares in the last quarter. Finally, Marshall Wace LLP increased its position in BioMarin Pharmaceutical by 212.6% in the fourth quarter. Marshall Wace LLP now owns 433,641 shares of the company’s stock valued at $35,923,000 after buying an additional 294,916 shares in the last quarter. 97.78% of the stock is owned by institutional investors and hedge funds.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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