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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $88.6667.

A number of research firms have issued reports on BMRN. Bank of America cut their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Stifel Nicolaus set a $68.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, February 24th. HC Wainwright reissued a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Monday. Jefferies Financial Group reissued a “buy” rating and issued a $103.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, March 12th. Finally, Oppenheimer cut their price objective on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the completion of the sale, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. The trade was a 5.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.85% of the stock is owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors have recently bought and sold shares of the business. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its holdings in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $45,000. Finally, Parallel Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 295 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $55.90 on Tuesday. 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 has a market capitalization of $10.80 billion, a P/E ratio of 40.80, a P/E/G ratio of 0.42 and a beta of 0.25. BioMarin Pharmaceutical has a 12-month low of $49.26 and a 12-month high of $66.28. The firm has a 50-day moving average price of $54.23 and a two-hundred day moving average price of $56.43.

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.