BioMarin Pharmaceutical’s (BMRN) Hold Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Thursday, Benzinga reports. The firm currently has a $89.00 price target on the biotechnology company’s stock.

Several other equities research analysts also recently weighed in on BMRN. Morgan Stanley decreased their target price on BioMarin Pharmaceutical from $115.00 to $112.00 and set an overweight rating for the company in a research report on Friday, April 26th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. Scotiabank upped their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a sector perform rating in a research report on Thursday, April 25th. Finally, StockNews.com downgraded BioMarin Pharmaceutical from a buy rating to a hold rating in a research report on Monday, July 22nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $102.00.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $84.59 on Thursday. The firm has a market capitalization of $16.06 billion, a PE ratio of 79.06, a P/E/G ratio of 1.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The business has a 50-day moving average of $81.75 and a two-hundred day moving average of $85.40. BioMarin Pharmaceutical has a 12 month low of $73.68 and a 12 month high of $99.56.

Insider Transactions at BioMarin Pharmaceutical

In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction that occurred 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 directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction that occurred 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 directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 40,850 shares of the stock in a transaction that occurred 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 sale, the executive vice president now owns 56,157 shares in the company, valued at $4,184,258.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,700 shares of company stock worth $5,209,352. 1.85% of the stock is currently owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the period. Lindbrook Capital LLC increased its position in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares during the period. Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at approximately $43,000. Finally, First Horizon Advisors Inc. boosted its stake in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 144 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.