BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lifted by analysts at JPMorgan Chase & Co. from $108.00 to $113.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 92.53% from the company’s previous close.

BMRN has been the topic of several other research reports. The Goldman Sachs Group dropped their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Morgan Stanley assumed coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They issued an “overweight” rating and a $97.00 price target on the stock. Citigroup lowered their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $93.78.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN traded up $0.59 during trading hours on Monday, hitting $58.69. The stock had a trading volume of 265,112 shares, compared to its average volume of 1,746,296. The stock’s fifty day simple moving average is $57.43 and its 200 day simple moving average is $62.61. BioMarin Pharmaceutical has a 1-year low of $52.93 and a 1-year high of $94.85. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 0.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.52.

Insider Activity

In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total value of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Rise Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at about $30,000. Farther Finance Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. LRI Investments LLC boosted its holdings in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in BioMarin Pharmaceutical by 71.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in BioMarin Pharmaceutical by 2,250.0% during the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 540 shares in the last quarter. Institutional investors and hedge funds 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.