BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 12-Month Low – What’s Next?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $50.76 and last traded at $51.1340, with a volume of 667973 shares trading hands. The stock had previously closed at $51.84.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Wall Street Zen downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 8th. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.91.

BioMarin Pharmaceutical Trading Down 1.5%

The firm has a market capitalization of $9.81 billion, a PE ratio of 19.21, a PEG ratio of 0.68 and a beta of 0.33. The business has a fifty day moving average price of $54.33 and a two-hundred day moving average price of $56.90. The company has a current ratio of 4.83, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in BioMarin Pharmaceutical in the second quarter worth approximately $25,000. Quent Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. Rise Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at approximately $30,000. Brooklyn Investment Group raised its position in BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 540 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.