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

Key Points

• BioMarin Pharmaceutical Inc. has received an average rating of "Moderate Buy" from twenty-five analysts, with eighteen recommending a buy and seven suggesting a hold.
• The average 1-year target price among brokerages for BioMarin's stock is $93.17, reflecting analysts' positive outlook despite some recent price target adjustments.
• Institutional investors dominate ownership of BioMarin, holding 98.71% of the company's stock, with several firms recently increasing their stakes significantly.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $93.1739.

Several equities analysts have recently issued reports on BMRN shares. Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Guggenheim boosted their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Zacks Research lowered shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 95.9% during the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $30,000. LRI Investments LLC lifted its holdings in shares of BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 437 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after acquiring an additional 218 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN opened at $57.45 on Wednesday. The company has a fifty day moving average price of $57.59 and a two-hundred day moving average price of $61.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. BioMarin Pharmaceutical has a 52 week low of $52.93 and a 52 week high of $93.04. The firm has a market capitalization of $11.03 billion, a PE ratio of 17.05, a P/E/G ratio of 0.75 and a beta of 0.18.

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.

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