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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned an average rating of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $88.2609.

Several research analysts recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a “buy” rating for the company in a report on Friday, May 22nd. UBS Group reaffirmed a “neutral” rating on shares of BioMarin Pharmaceutical in a report on Tuesday. Sanford C. Bernstein lowered their price objective on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a “neutral” rating and a $69.00 target price for the company.

BioMarin Pharmaceutical Stock Down 0.7%

BMRN stock opened at $59.59 on Friday. The stock has a market capitalization of $11.52 billion, a PE ratio of 43.50, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The company has a fifty day moving average of $55.92 and a 200-day moving average of $56.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $66.28.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares of the company’s stock, valued at $2,790,399.30. This represents a 5.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its position in shares of BioMarin Pharmaceutical by 7.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 62,700 shares of the biotechnology company’s stock worth $3,588,000 after purchasing an additional 4,200 shares in the last quarter. Everhart Financial Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 34.2% in the 2nd quarter. Everhart Financial Group Inc. now owns 6,995 shares of the biotechnology company’s stock valued at $400,000 after purchasing an additional 1,784 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of BioMarin Pharmaceutical by 43.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,422 shares of the biotechnology company’s stock valued at $139,000 after purchasing an additional 734 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of BioMarin Pharmaceutical by 310.5% in the 2nd quarter. Versant Capital Management Inc now owns 2,549 shares of the biotechnology company’s stock valued at $146,000 after purchasing an additional 1,928 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of BioMarin Pharmaceutical by 2.2% in the first quarter. NewEdge Advisors LLC now owns 24,351 shares of the biotechnology company’s stock valued at $1,376,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds 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.