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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $90.8636.

BMRN has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $103.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, March 12th. Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Wednesday, March 25th. Piper Sandler reduced their price target on BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Finally, Wells Fargo & Company boosted their price target on BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th.

Insider Buying and Selling at BioMarin Pharmaceutical

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

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors have recently bought and sold shares of the stock. Viking Global Investors LP boosted its stake in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Norges Bank acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $447,572,000. AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 12.7% in the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock worth $395,197,000 after purchasing an additional 754,807 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in BioMarin Pharmaceutical by 14.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock worth $214,804,000 after purchasing an additional 481,176 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company’s stock valued at $218,395,000 after purchasing an additional 131,969 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $54.06 on Monday. BioMarin Pharmaceutical has a twelve month low of $50.76 and a twelve month high of $66.28. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 0.39 and a beta of 0.23. The stock has a fifty day simple moving average of $56.38 and a two-hundred day simple moving average of $56.34. The company has a current ratio of 5.81, a quick ratio of 3.50 and a debt-to-equity ratio of 0.23.

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.