BioMarin Pharmaceutical’s (BMRN) “Neutral” Rating Reaffirmed at The Goldman Sachs Group

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating reaffirmed by equities researchers at The Goldman Sachs Group in a report issued on Monday,Benzinga reports. They presently have a $69.00 target price on the biotechnology company’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 27.64% from the stock’s current price.

A number of other brokerages have also issued reports on BMRN. Jefferies Financial Group reissued a “buy” rating and issued a $103.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Stifel Nicolaus set a $68.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. HC Wainwright reissued a “neutral” rating and issued a $55.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Oppenheimer cut their price target on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.91.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $54.06 on Monday. The firm has a market cap of $10.45 billion, a PE ratio of 39.46, a price-to-earnings-growth ratio of 0.40 and a beta of 0.23. BioMarin Pharmaceutical has a 12-month low of $50.76 and a 12-month high of $66.28. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $56.38 and its two-hundred day simple moving average is $56.34.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. The trade was a 17.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. lifted its position in BioMarin Pharmaceutical by 292.6% during the 3rd quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock valued at $15,074,000 after acquiring an additional 207,430 shares during the period. Mediolanum International Funds Ltd grew its stake in shares of BioMarin Pharmaceutical by 56.2% in the third quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock worth $7,437,000 after acquiring an additional 49,534 shares during the period. Rakuten Investment Management Inc. bought a new stake in shares of BioMarin Pharmaceutical in the third quarter worth approximately $1,265,000. DNB Asset Management AS grew its stake in shares of BioMarin Pharmaceutical by 13.8% in the third quarter. DNB Asset Management AS now owns 1,274,284 shares of the biotechnology company’s stock worth $69,015,000 after acquiring an additional 154,954 shares during the period. Finally, New York Life Investment Management LLC bought a new stake in BioMarin Pharmaceutical during the third quarter valued at approximately $1,071,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.