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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given an average recommendation of “Moderate Buy” by the twenty-four research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $88.6667.

Several equities analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $103.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Barclays raised their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. The Goldman Sachs Group began coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 price objective for the company. Finally, HC Wainwright restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research report on Monday, June 22nd.

BioMarin Pharmaceutical Stock Down 2.3%

BioMarin Pharmaceutical stock opened at $57.67 on Tuesday. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 0.45 and a beta of 0.25. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $54.51 and its two-hundred day moving average price is $56.56. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $66.28.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the sale, the executive vice president directly owned 51,818 shares of the company’s stock, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $26,000. CIBC Private Wealth Group LLC lifted its position in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical during the 3rd quarter worth about $40,000. V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $45,000. Finally, Parallel Advisors LLC lifted its position in BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.