BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Lowered by Wall Street Zen

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research analysts have also commented on BMRN. Bank of America cut their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Truist Financial raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Wednesday, March 25th. Loop Capital set a $105.00 price objective on BioMarin Pharmaceutical in a report on Monday, March 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $66.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, May 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $103.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.67.

BioMarin Pharmaceutical Stock Up 0.5%

Shares of NASDAQ BMRN opened at $56.77 on Friday. BioMarin Pharmaceutical has a 12 month low of $49.26 and a 12 month high of $66.28. The company has a current ratio of 5.81, a quick ratio of 4.20 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 0.43 and a beta of 0.25. The business has a 50-day moving average of $54.27 and a 200-day moving average of $56.33.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. The trade was a 17.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction that occurred on 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 SEC filing for this sale provides additional information. Insiders own 0.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Viking Global Investors LP lifted its position in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical in the fourth quarter valued at approximately $447,572,000. AQR Capital Management LLC lifted its position in BioMarin Pharmaceutical by 12.7% in the fourth quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company’s stock valued at $395,197,000 after purchasing an additional 754,807 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in BioMarin Pharmaceutical by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock valued at $214,804,000 after purchasing an additional 481,176 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in 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 last quarter. Institutional investors own 98.71% of the company’s stock.

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.