BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $88.29 Average PT from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given an average recommendation of “Moderate Buy” by the twenty-two research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $88.1429.

BMRN has been the subject of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Tudor Pickering set a $88.00 price target on BioMarin Pharmaceutical in a research report on Monday, November 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 29th. Morgan Stanley cut their price objective on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th.

BioMarin Pharmaceutical Trading Up 1.0%

BioMarin Pharmaceutical stock opened at $64.08 on Wednesday. BioMarin Pharmaceutical has a 52-week low of $50.76 and a 52-week high of $73.51. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 0.70 and a beta of 0.26. The firm has a 50-day moving average price of $58.09 and a two-hundred day moving average price of $56.02.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC lifted its position in 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 purchasing an additional 179 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 7.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,741 shares of the biotechnology company’s stock worth $163,000 after buying an additional 195 shares in the last quarter. Securian Asset Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.4% in the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock valued at $803,000 after buying an additional 197 shares during the period. Finally, Sittner & Nelson LLC boosted its stake in BioMarin Pharmaceutical by 6.9% during the second quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock valued at $170,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.