BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) from a buy rating to a hold rating in a research report sent to investors on Monday.

Several other analysts have also issued reports on the stock. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an equal weight rating to an overweight rating and upped their price target for the company from $96.00 to $113.00 in a research report on Monday, April 25th. Cantor Fitzgerald assumed coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 12th. They set an overweight rating and a $110.00 price target for the company. Wedbush restated a hold rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, June 24th. Stifel Nicolaus reiterated a buy rating and set a $96.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, May 3rd. Finally, Credit Suisse Group increased their target price on shares of BioMarin Pharmaceutical from $105.00 to $106.00 and gave the stock an outperform rating in a report on Monday, June 6th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of Moderate Buy and an average price target of $108.57.

BioMarin Pharmaceutical Stock Down 0.7 %

BMRN opened at $85.41 on Monday. The business’s fifty day simple moving average is $81.88 and its 200 day simple moving average is $82.06. The company has a quick ratio of 3.28, a current ratio of 4.88 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical has a 52 week low of $70.73 and a 52 week high of $94.20. The stock has a market cap of $15.80 billion, a PE ratio of 474.50, a P/E/G ratio of 1.81 and a beta of 0.33.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,308 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the transaction, the executive vice president now owns 54,109 shares of the company’s stock, valued at $4,271,364.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,308 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the transaction, the executive vice president now owns 54,109 shares of the company’s stock, valued at $4,271,364.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Mueller sold 11,800 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $84.50, for a total transaction of $997,100.00. Following the transaction, the chief financial officer now directly owns 38,639 shares of the company’s stock, valued at approximately $3,264,995.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,843 shares of company stock valued at $3,264,235. Corporate insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Transatlantique Private Wealth LLC bought a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $385,000. Arizona State Retirement System increased its position in shares of BioMarin Pharmaceutical by 0.5% during the second quarter. Arizona State Retirement System now owns 51,362 shares of the biotechnology company’s stock valued at $4,256,000 after acquiring an additional 257 shares in the last quarter. Comgest Global Investors S.A.S. increased its position in shares of BioMarin Pharmaceutical by 12.4% during the second quarter. Comgest Global Investors S.A.S. now owns 119,815 shares of the biotechnology company’s stock valued at $9,929,000 after acquiring an additional 13,203 shares in the last quarter. CWM LLC increased its position in shares of BioMarin Pharmaceutical by 60.4% during the second quarter. CWM LLC now owns 781 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 294 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 32.8% during the second quarter. Inspirion Wealth Advisors LLC now owns 10,390 shares of the biotechnology company’s stock valued at $861,000 after acquiring an additional 2,564 shares in the last quarter. Institutional investors own 95.45% of the company’s stock.

About BioMarin Pharmaceutical

(Get Rating)

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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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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