Citigroup upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) to a strong-buy rating in a research report report published on Monday,Zacks.com reports.
A number of other brokerages have also recently weighed in on BMRN. The Goldman Sachs Group started coverage on shares of BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and set a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Sanford C. Bernstein lowered their price target on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, February 24th. Finally, Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.88.
Check Out Our Latest Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Stock Up 0.3%
Insider Activity
In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the sale, the executive vice president directly owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This represents a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president directly owned 79,953 shares of the company’s stock, valued at $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 26,093 shares of company stock valued at $1,555,389. Insiders own 0.85% of the company’s stock.
Institutional Trading of BioMarin Pharmaceutical
Hedge funds have recently bought and sold shares of the company. Viking Global Investors LP lifted its position in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $447,572,000. AQR Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock worth $395,197,000 after purchasing an additional 754,807 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of BioMarin Pharmaceutical by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock worth $214,804,000 after purchasing an additional 481,176 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock worth $218,395,000 after purchasing an additional 131,969 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.
The company’s commercial portfolio includes several approved therapies targeting inherited disorders.
Featured Stories
- Five stocks we like better than BioMarin Pharmaceutical
- Palo Alto Networks Up 70%: Can the Rally Last Into June?
- Block’s Pivot to Profits and AI Is Turning Heads
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.
