BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) had its price objective dropped by equities research analysts at Piper Sandler from $125.00 to $115.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 44.49% from the stock’s previous close.
Several other research analysts have also commented on BMRN. Stifel Nicolaus decreased their price objective on shares of BioMarin Pharmaceutical from $118.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $129.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, August 1st. StockNews.com began coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, October 5th. They issued a “buy” rating for the company. Scotiabank began coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a “sector perform” rating and a $95.00 price target for the company. Finally, UBS Group began coverage on shares of BioMarin Pharmaceutical in a research note on Monday, September 18th. They issued a “buy” rating and a $120.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.43.
Read Our Latest Stock Report on BMRN
BioMarin Pharmaceutical Stock Down 0.1 %
Insider Activity
In other news, EVP George Eric Davis sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $89.42, for a total transaction of $983,620.00. Following the sale, the executive vice president now owns 69,474 shares of the company’s stock, valued at approximately $6,212,365.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jeffrey Robert Ajer sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the transaction, the executive vice president now owns 60,804 shares in the company, valued at approximately $5,472,360. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Eric Davis sold 11,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $89.42, for a total transaction of $983,620.00. Following the completion of the transaction, the executive vice president now owns 69,474 shares in the company, valued at approximately $6,212,365.08. The disclosure for this sale can be found here. Insiders have sold a total of 32,000 shares of company stock valued at $2,871,180 in the last 90 days. 1.84% of the stock is currently owned by insiders.
Hedge Funds Weigh In On BioMarin Pharmaceutical
Several institutional investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 31.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 382,094 shares of the biotechnology company’s stock worth $33,808,000 after purchasing an additional 92,045 shares during the period. Certuity LLC bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth approximately $203,000. C WorldWide Group Holding A S raised its stake in BioMarin Pharmaceutical by 18.7% during the 3rd quarter. C WorldWide Group Holding A S now owns 253,851 shares of the biotechnology company’s stock worth $22,461,000 after acquiring an additional 40,000 shares during the period. EFG Asset Management North America Corp. raised its stake in BioMarin Pharmaceutical by 44.9% during the 3rd quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock worth $5,957,000 after acquiring an additional 20,874 shares during the period. Finally, Principal Financial Group Inc. raised its stake in BioMarin Pharmaceutical by 3.8% during the 3rd quarter. Principal Financial Group Inc. now owns 32,604 shares of the biotechnology company’s stock worth $2,885,000 after acquiring an additional 1,190 shares during the period. Institutional investors own 92.78% of the company’s stock.
About BioMarin Pharmaceutical
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.
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