BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $108.00 to $113.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 99.58% from the company’s previous close.

Several other research firms have also issued reports on BMRN. Wall Street Zen upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Morgan Stanley initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $97.00 target price on the stock. The Goldman Sachs Group cut their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $93.78.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $56.62 on Monday. The firm has a market cap of $10.86 billion, a P/E ratio of 21.05, a P/E/G ratio of 0.79 and a beta of 0.17. The company has a current ratio of 5.52, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical has a 12 month low of $52.93 and a 12 month high of $94.85. The stock’s fifty day moving average price is $57.29 and its 200-day moving average price is $62.51.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,786 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the transaction, the chief accounting officer directly owned 14,173 shares of the company’s stock, valued at $840,600.63. This represents a 11.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Rise Advisors LLC acquired a new position in BioMarin Pharmaceutical during the 1st quarter worth about $30,000. Farther Finance Advisors LLC lifted its stake in BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 211 shares in the last quarter. LRI Investments LLC lifted its stake in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 437 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 218 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after acquiring an additional 540 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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.