BioMarin Pharmaceutical (BMRN) Rating Lowered to Hold at ValuEngine

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other equities research analysts have also recently weighed in on the stock. Canaccord Genuity boosted their price target on shares of BioMarin Pharmaceutical from $113.00 to $116.00 and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. Cantor Fitzgerald set a $126.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Wednesday, November 28th. BidaskClub cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Thursday, November 8th. Raymond James boosted their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Wedbush restated an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $113.34.

BMRN stock opened at $88.81 on Wednesday. BioMarin Pharmaceutical has a one year low of $75.81 and a one year high of $106.74. The company has a current ratio of 2.87, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $16.14 billion, a PE ratio of -132.55 and a beta of 1.63.

In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 2,150 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $82.53, for a total transaction of $177,439.50. Following the transaction, the director now owns 21,310 shares in the company, valued at $1,758,714.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jean Jacques Bienaime sold 2,000 shares of the business’s stock in a transaction on Friday, December 14th. The shares were sold at an average price of $92.64, for a total transaction of $185,280.00. Following the transaction, the chief executive officer now owns 290,290 shares in the company, valued at approximately $26,892,465.60. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $3,350,530 in the last quarter. Company insiders own 1.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc increased its position in BioMarin Pharmaceutical by 0.7% during the third quarter. Vanguard Group Inc now owns 15,004,770 shares of the biotechnology company’s stock valued at $1,455,013,000 after acquiring an additional 107,717 shares during the last quarter. Jennison Associates LLC increased its position in BioMarin Pharmaceutical by 7.0% during the fourth quarter. Jennison Associates LLC now owns 11,600,460 shares of the biotechnology company’s stock valued at $987,779,000 after acquiring an additional 756,222 shares during the last quarter. Capital World Investors increased its position in BioMarin Pharmaceutical by 34.3% during the third quarter. Capital World Investors now owns 2,461,841 shares of the biotechnology company’s stock valued at $238,725,000 after acquiring an additional 628,738 shares during the last quarter. Capital International Investors bought a new position in BioMarin Pharmaceutical during the third quarter valued at $204,025,000. Finally, Geode Capital Management LLC increased its position in BioMarin Pharmaceutical by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock valued at $139,844,000 after acquiring an additional 92,519 shares during the last quarter.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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