BioMarin Pharmaceutical Inc. (BMRN) Given Average Recommendation of “Buy” by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus recommendation of “Buy” from the twenty-five analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $109.22.

Several equities analysts have recently weighed in on BMRN shares. ValuEngine cut BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. SunTrust Banks set a $115.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, October 19th. BMO Capital Markets reiterated a “buy” rating and set a $117.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 20th. Finally, Wedbush upgraded BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Thursday, December 14th.

BioMarin Pharmaceutical (BMRN) traded down $1.71 during trading on Wednesday, hitting $81.57. The stock had a trading volume of 1,148,500 shares, compared to its average volume of 1,417,863. The firm has a market cap of $14,650.00, a price-to-earnings ratio of -98.28 and a beta of 1.71. BioMarin Pharmaceutical has a 52 week low of $78.50 and a 52 week high of $100.51. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total value of $2,719,800.00. Following the sale, the executive vice president now owns 112,942 shares in the company, valued at approximately $10,239,321.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $88.84, for a total value of $333,150.00. The disclosure for this sale can be found here. Insiders sold a total of 90,750 shares of company stock worth $8,159,588 in the last 90 days. Company insiders own 1.85% of the company’s stock.

Several large investors have recently bought and sold shares of BMRN. Dimensional Fund Advisors LP increased its position in shares of BioMarin Pharmaceutical by 1.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 190,569 shares of the biotechnology company’s stock worth $17,307,000 after purchasing an additional 2,422 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of BioMarin Pharmaceutical by 49.4% during the 2nd quarter. Janus Henderson Group PLC now owns 33,186 shares of the biotechnology company’s stock worth $3,014,000 after purchasing an additional 10,976 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of BioMarin Pharmaceutical by 59.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,038 shares of the biotechnology company’s stock worth $548,000 after purchasing an additional 2,263 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of BioMarin Pharmaceutical by 13.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 812 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of BioMarin Pharmaceutical by 1.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after purchasing an additional 54 shares during the last quarter. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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