BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Consensus Recommendation of "Moderate Buy" by Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-three ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $93.45.

A number of analysts have commented on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America boosted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Finally, Citigroup reduced their target price on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd.

BioMarin Pharmaceutical Stock Down 0.8%

BMRN stock traded down $0.46 during midday trading on Monday, reaching $57.55. 1,732,309 shares of the company's stock traded hands, compared to its average volume of 1,867,263. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 0.61 and a beta of 0.27. The firm's fifty day moving average price is $62.42 and its 200-day moving average price is $64.80. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52 week low of $52.93 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, sell-side analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the transaction, the chief accounting officer now owns 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 4,698 shares of company stock worth $308,172. 0.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth grew its position in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company's stock valued at $835,000 after buying an additional 4,876 shares during the period. Bayforest Capital Ltd bought a new position in BioMarin Pharmaceutical during the first quarter valued at about $552,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in BioMarin Pharmaceutical by 0.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,064,924 shares of the biotechnology company's stock valued at $75,279,000 after buying an additional 9,837 shares during the period. Empowered Funds LLC lifted its holdings in BioMarin Pharmaceutical by 207.4% during the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company's stock valued at $850,000 after purchasing an additional 8,112 shares during the last quarter. Finally, Fred Alger Management LLC lifted its holdings in BioMarin Pharmaceutical by 11.3% during the first quarter. Fred Alger Management LLC now owns 28,803 shares of the biotechnology company's stock valued at $2,036,000 after purchasing an additional 2,933 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.