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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $88.2609.

A number of brokerages have issued reports on BMRN. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Royal Bank Of Canada reduced their price target on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $120.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Finally, Truist Financial upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th.

BioMarin Pharmaceutical Stock Down 1.4%

Shares of NASDAQ:BMRN opened at $58.40 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of 42.63, a P/E/G ratio of 0.45 and a beta of 0.24. The company has a 50 day moving average of $56.27 and a 200-day moving average of $56.82. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $66.28.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Activest Wealth Management bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $26,000. CIBC Private Wealth Group LLC boosted its position in shares of BioMarin Pharmaceutical by 38.2% during 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at $40,000. Parallel Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $45,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.