Wells Fargo & Company Raises BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $115.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price upped by Wells Fargo & Company from $110.00 to $115.00 in a report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of several other research reports. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a sector perform rating in a research report on Thursday, April 25th. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They set an outperform rating and a $113.00 target price on the stock. Baird R W lowered BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Friday, May 17th. Citigroup dropped their price objective on BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. Finally, Morgan Stanley reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an overweight rating for the company in a research note on Friday, April 26th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of Moderate Buy and a consensus price target of $106.37.

BioMarin Pharmaceutical Trading Down 2.1 %

NASDAQ BMRN opened at $83.50 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a 52 week low of $73.68 and a 52 week high of $99.56. The business has a 50 day moving average price of $81.62 and a 200-day moving average price of $87.48. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 1.21 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The business had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. As a group, equities analysts expect that BioMarin Pharmaceutical will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the transaction, the executive vice president now owns 56,157 shares in the company, valued at $4,184,258.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The disclosure for this sale can be found here. Insiders have sold a total of 89,986 shares of company stock valued at $7,240,292 over the last three months. 1.85% of the stock is currently owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its holdings in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 59,760 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $3,598,000. FMR LLC grew its stake in BioMarin Pharmaceutical by 30.4% during the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after acquiring an additional 166,219 shares in the last quarter. Nordea Investment Management AB increased its holdings in BioMarin Pharmaceutical by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock worth $1,121,000 after acquiring an additional 544 shares during the period. Finally, ING Groep NV purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $20,248,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.