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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus rating of “Moderate Buy” by the twenty-four analysts that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $88.6667.

Several research firms recently weighed in on BMRN. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Monday, March 16th. Citigroup began coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, May 19th. They issued a “buy” rating and a $75.00 price target on the stock. HC Wainwright reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Monday, June 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $26,000. CIBC Private Wealth Group LLC lifted its stake in shares of BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth about $40,000. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $45,000. Finally, Parallel Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 62.2% in the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 2.9%

NASDAQ:BMRN opened at $59.00 on Tuesday. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 43.06, a price-to-earnings-growth ratio of 0.45 and a beta of 0.25. BioMarin Pharmaceutical has a twelve month low of $49.26 and a twelve month high of $66.28. The stock’s 50 day moving average price is $54.43 and its two-hundred day moving average price is $56.51. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23.

About BioMarin Pharmaceutical

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.