BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Lowered by StockNews.com

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other brokerages also recently weighed in on BMRN. Guggenheim restated a “buy” rating and set a $125.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday. Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $119.00 to $112.00 and set a “hold” rating on the stock in a research report on Tuesday. Wedbush reduced their price objective on shares of BioMarin Pharmaceutical from $83.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday. Evercore ISI increased their price objective on shares of BioMarin Pharmaceutical to $130.00 in a research note on Friday, December 2nd. Finally, Stifel Nicolaus increased their price objective on shares of BioMarin Pharmaceutical from $114.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $120.37.

BioMarin Pharmaceutical Stock Down 0.9 %

Shares of BioMarin Pharmaceutical stock opened at $100.12 on Wednesday. The company has a market cap of $18.68 billion, a price-to-earnings ratio of 135.30 and a beta of 0.39. The company’s 50 day moving average is $108.51 and its 200 day moving average is $97.60. BioMarin Pharmaceutical has a twelve month low of $70.73 and a twelve month high of $117.77. The company has a quick ratio of 3.54, a current ratio of 4.67 and a debt-to-equity ratio of 0.24.

Insiders Place Their Bets

In other news, CEO Jean Jacques Bienaime sold 6,000 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $109.15, for a total transaction of $654,900.00. Following the transaction, the chief executive officer now directly owns 320,324 shares of the company’s stock, valued at $34,963,364.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jean Jacques Bienaime sold 6,000 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $109.15, for a total transaction of $654,900.00. Following the transaction, the chief executive officer now directly owns 320,324 shares of the company’s stock, valued at $34,963,364.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian Mueller sold 2,500 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $107.50, for a total value of $268,750.00. Following the completion of the transaction, the chief financial officer now directly owns 27,746 shares in the company, valued at $2,982,695. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,000 shares of company stock valued at $10,875,740. 1.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $285,013,000. Carmignac Gestion purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $89,893,000. Point72 Asset Management L.P. boosted its stake in shares of BioMarin Pharmaceutical by 302.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 595,400 shares of the biotechnology company’s stock worth $50,472,000 after acquiring an additional 447,529 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of BioMarin Pharmaceutical by 8,612.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 432,401 shares of the biotechnology company’s stock worth $44,749,000 after acquiring an additional 427,438 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $33,411,000. 96.26% of the stock is owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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BioMarin Pharmaceutical, Inc engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline products include Valoctocogene roxaparvovec, Vosoritide, and BMN 307. The company was founded by John C. Klock, Christopher M.