BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Average Rating of “Moderate Buy” by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average rating of “Moderate Buy” from the twenty-four research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $93.1739.

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. The Goldman Sachs Group lowered their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Guggenheim lifted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup reduced their price target on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley lowered their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a research report on Tuesday, July 22nd.

Insider Buying and Selling

In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the transaction, the chief accounting officer directly owned 14,173 shares in the company, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 211 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. LRI Investments LLC lifted its holdings in BioMarin Pharmaceutical by 856.9% in the 4th 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. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in BioMarin Pharmaceutical by 71.2% in the 1st 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. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $60.67 on Friday. The company’s 50 day moving average price is $57.24 and its two-hundred day moving average price is $61.79. The firm has a market capitalization of $11.64 billion, a P/E ratio of 18.00, a P/E/G ratio of 0.85 and a beta of 0.18. BioMarin Pharmaceutical has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.49.

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.