BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rose 2.5% during mid-day trading on Thursday . The stock traded as high as $87.40 and last traded at $89.37. Approximately 73,979 shares changed hands during trading, a decline of 93% from the average daily volume of 1,052,553 shares. The stock had previously closed at $87.16.
Several brokerages have weighed in on BMRN. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Wedbush reiterated an “outperform” rating and set a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 7th. Cantor Fitzgerald lifted their price target on BioMarin Pharmaceutical to $131.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Oppenheimer lowered their price target on BioMarin Pharmaceutical from $92.00 to $81.00 in a report on Friday, February 22nd. Finally, Barclays reiterated a “hold” rating and set a $95.00 price target on shares of BioMarin Pharmaceutical in a report on Sunday, February 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. BioMarin Pharmaceutical has an average rating of “Buy” and an average price target of $116.00.
The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76. The company has a market cap of $14.73 billion, a P/E ratio of -271.41 and a beta of 1.46.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 2,196 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $95.00, for a total value of $208,620.00. Following the transaction, the insider now owns 142,504 shares in the company, valued at $13,537,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $82.16, for a total value of $328,640.00. Following the completion of the transaction, the chief executive officer now owns 326,520 shares in the company, valued at approximately $26,826,883.20. The disclosure for this sale can be found here. Insiders sold 103,011 shares of company stock worth $9,215,368 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
Several large investors have recently made changes to their positions in BMRN. Doyle Wealth Management acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $26,000. Rational Advisors LLC raised its holdings in BioMarin Pharmaceutical by 3,211.1% in the 1st quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 289 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in BioMarin Pharmaceutical by 49.6% in the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Lindbrook Capital LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $30,000. Finally, PRW Wealth Management LLC acquired a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $30,000. 99.55% of the stock is owned by institutional investors.
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About BioMarin Pharmaceutical (NASDAQ:BMRN)
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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