Key Points
- BioMarin EVP Gregory Friberg sold 3,281 shares on May 7 at an average price of $53.85, totaling about $176,682. After the transaction, he still owned 51,818 shares, reducing his stake by 5.95%.
- The stock has drawn mixed but generally positive analyst attention, with a consensus rating of “Moderate Buy” and an average price target of $89.91. Recent target prices ranged from $82 to $105, though some firms trimmed their expectations.
- BioMarin remains heavily owned by institutions, with hedge funds and other institutional investors holding 98.71% of the stock. The company is a biopharmaceutical firm focused on rare genetic and metabolic diseases.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) EVP Gregory Friberg sold 3,281 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares of the company's stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
BioMarin Pharmaceutical Price Performance
BMRN opened at $52.58 on Tuesday. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 38.38, a PEG ratio of 0.40 and a beta of 0.23. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical Inc. has a 12-month low of $50.76 and a 12-month high of $66.28. The business's fifty day simple moving average is $56.06 and its 200-day simple moving average is $56.33.
Analyst Ratings Changes
BMRN has been the topic of several recent research reports. Jefferies Financial Group reiterated a "buy" rating and set a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Loop Capital set a $105.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, March 2nd. Barclays increased their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Sanford C. Bernstein cut their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. Finally, Piper Sandler reduced their price objective on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an "overweight" rating for the company in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.91.
Check Out Our Latest Report on BioMarin Pharmaceutical
Hedge Funds Weigh In On BioMarin Pharmaceutical
Several institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,000. CIBC Private Wealth Group LLC lifted its position in BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock valued at $39,000 after acquiring an additional 179 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Finally, Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company's stock.
BioMarin Pharmaceutical Company Profile
(
Get Free Report)
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.
Further Reading
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