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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average recommendation of “Buy” by the twenty-five brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $109.22.

Several equities analysts have commented on BMRN shares. JPMorgan Chase & Co. lowered their price target on BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Saturday, January 20th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Tuesday, January 16th. Wedbush reiterated a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, November 15th. Finally, BMO Capital Markets increased their price target on BioMarin Pharmaceutical from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, October 27th.

Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded down $1.71 during mid-day trading on Wednesday, reaching $81.57. The company’s stock had a trading volume of 1,148,500 shares, compared to its average volume of 1,417,863. BioMarin Pharmaceutical has a one year low of $78.50 and a one year high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. The firm has a market capitalization of $14,650.00, a P/E ratio of -98.28 and a beta of 1.71.

In related news, EVP George Eric Davis sold 1,200 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $85.64, for a total value of $102,768.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $88.84, for a total value of $333,150.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,750 shares of company stock valued at $8,159,588. 1.85% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. First Manhattan Co. lifted its holdings in shares of BioMarin Pharmaceutical by 104.2% during the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after acquiring an additional 625 shares during the period. Financial Gravity Companies Inc. bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $112,000. Toronto Dominion Bank lifted its holdings in shares of BioMarin Pharmaceutical by 12.9% during the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 243 shares during the period. Commerce Bank bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $209,000. Finally, Teacher Retirement System of Texas bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $220,000. 98.81% of the stock is owned by hedge funds and other institutional investors.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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