BioMarin Pharmaceutical (NASDAQ:BMRN) price target raised to $104.00

BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) saw its price target raised by analysts Stifel Nicolaus to $104.00 in a report on Wednesday, Fly reports. Stifel Nicolaus’ price target indicates an upside potential of 24.64% from the current share price.

Several other brokerages have also recently weighed in on BMRN. Credit Suisse Group raised its price target on BioMarin Pharmaceutical to $111.00 in a Tuesday, August 9 research note. SVB Leerink raised its price target on BioMarin Pharmaceutical from $115.00 to $122.00 and gave the stock an “outperform” rating in a Thursday, Aug. 4 research note. Morgan Stanley raised its price target on BioMarin Pharmaceutical from $113.00 to $117.00 and gave the stock an “overweight” rating in a Thursday, Aug. 4 research note. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a Tuesday, August 9 research note. Finally, Robert W. Baird reiterated an “outperform” rating and set a target price of $112.00 on BioMarin Pharmaceutical shares in a Friday, August 26 research note. Two analysts gave the stock a hold rating and thirteen gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.43.

Price performance of BioMarin Pharmaceutical

BMRN shares opened at $83.44 on Wednesday. BioMarin Pharmaceutical has a 12-month low of $70.73 and a 12-month high of $97.76. The company’s 50-day moving average is $89.77 and its 200-day moving average is $83.84. The company has a quick ratio of 3.69, a current ratio of 5.42 and a leverage ratio of 0.24. The stock has a market capitalization of $15.48 billion, a P/E ratio of 320.94, a P/E/G ratio of 1.86 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) last released its quarterly earnings data on Wednesday, August 3. The biotech company reported earnings per share of $0.33 for the quarter, beating the consensus estimate of $0.20 by $0.13. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. The company posted revenue of $533.80 million for the quarter, compared to $514.18 million expected by analysts. During the same period last year, the company achieved EPS of $0.23. Sell-side analysts expect BioMarin Pharmaceutical to post earnings per share of 0.91 for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles-Greg Guyer sold 6,205 shares of BioMarin Pharmaceutical in a trade dated Monday, August 8. The stock was sold at an average price of $96.56, for a total transaction of $599,154.80. Following the completion of the transaction, the executive vice president now owns 42,168 shares of the company, valued at approximately $4,071,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 7,398 shares of BioMarin Pharmaceutical in a trade dated Friday, July 8. The stock was sold at an average price of $90.00, for a total transaction of $665,820.00. Following the completion of the transaction, the executive vice president now owns 58,941 shares of the company, valued at approximately $5,304,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Charles-Greg Guyer sold 6,205 shares of BioMarin Pharmaceutical in a trade dated Monday, August 8. The shares were sold at an average price of $96.56, for a total value of $599,154.80. Following the sale, the executive vice president now owns 42,168 shares of the company, valued at approximately $4,071,742.08. Disclosure of this sale can be found here. Insiders sold 30,940 shares of the company valued at $2,873,126 during the last quarter. 1.75% of the shares are currently held by insiders.

BioMarin Pharmaceutical Institutional Trading

A number of large investors have recently changed their holdings in BMRN. Quadrant Capital Group LLC increased its position in BioMarin Pharmaceutical shares by 188.6% during the second quarter. Quadrant Capital Group LLC now owns 355 shares of the biotech company valued at $29,000 after acquiring 232 additional shares in the last quarter. Acadian Asset Management LLC increased its position in BioMarin Pharmaceutical by 395.4% in Q1. Acadian Asset Management LLC now owns 431 shares of the biotech company worth $32,000 after buying 344 additional shares in the last quarter. Capital Wealth Alliance LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $34,000. CWM LLC increased its stake in shares of BioMarin Pharmaceutical by 435.2% during the first quarter. CWM LLC now owns 487 shares of the biotech company valued at $38,000 after purchasing an additional 396 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in BioMarin Pharmaceutical by 1,014.6% in the second quarter. First Horizon Advisors Inc. now owns 535 shares of the biotech company worth $43,000 after purchasing an additional 487 shares during the period. Institutional investors hold 94.84% of the company’s shares.

About BioMarin Pharmaceutical

(Get a rating)

BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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