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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned a consensus rating of “Moderate Buy” from the twenty-five research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $88.2917.

BMRN has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, November 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Finally, Piper Sandler lowered 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.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $59.95 on Wednesday. BioMarin Pharmaceutical has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The company has a market cap of $11.52 billion, a PE ratio of 22.54, a P/E/G ratio of 0.65 and a beta of 0.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The business has a 50-day simple moving average of $57.51 and a two-hundred day simple moving average of $55.98.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of the business. Financiere des Professionnels Fonds d investissement inc. purchased a new position in BioMarin Pharmaceutical in the third quarter valued at $1,047,000. Jump Financial LLC boosted its stake in shares of BioMarin Pharmaceutical by 530.3% during the 2nd quarter. Jump Financial LLC now owns 291,217 shares of the biotechnology company’s stock worth $16,008,000 after acquiring an additional 245,017 shares in the last quarter. AQR Capital Management LLC grew its position in shares of BioMarin Pharmaceutical by 90.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after acquiring an additional 2,654,768 shares during the period. Federated Hermes Inc. increased its stake in shares of BioMarin Pharmaceutical by 292.6% in the 3rd quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock valued at $15,074,000 after purchasing an additional 207,430 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its stake in shares of BioMarin Pharmaceutical by 56.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 137,675 shares of the biotechnology company’s stock valued at $7,437,000 after purchasing an additional 49,534 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.