Why Biomarin's Stock Is Trading Higher Today

BioMarin Pharmaceutical BMRN shares are trading higher on Wednesday, after Bank of Americamaintained its Buy rating on the stock and raised the price target from $120 to $130 per share.

BioMarin's focus is on rare-disease therapies. Genzyme (now part of Sanofi) markets Aldurazyme through its joint venture with BioMarin, and BioMarin markets Naglazyme, Vimizim, and Brineura independently.

BioMarin also markets Kuvan and Palynziq to treat the rare metabolic disorder PKU (in addition to long-standing U.S. rights, BioMarin has reacquired international rights for Kuvan and Palynziq from Merck KGaA).

BioMarin shares are trading up 1.73% at $106.91 at time of publication on Wednesday. The stock has a 52-week high of $112.57 and a 52-week low of $62.88.

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