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

Key Points

• BioMarin Pharmaceutical Inc. has received an average consensus rating of "Moderate Buy" from 22 analysts, with 14 recommending a buy and 8 recommending a hold on its stock.
• The average twelve-month price target for the stock among analysts is $92.60, with recommendations ranging from a hold to a strong buy.
• Institutional investors own 98.71% of BioMarin's stock, with notable increases in holdings from companies like Osaic Holdings and the State of Wyoming during the second quarter.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $92.60.

BMRN has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They set an "outperform" rating and a $85.00 price target for the company. Guggenheim increased their price objective on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Finally, Morgan Stanley dropped their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock valued at $112,607,000 after purchasing an additional 1,083,512 shares during the period. GAMMA Investing LLC increased its stake in BioMarin Pharmaceutical by 154.0% in the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock worth $221,000 after acquiring an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of BioMarin Pharmaceutical by 12.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock worth $6,875,000 after purchasing an additional 10,687 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of BioMarin Pharmaceutical by 0.9% in the 1st 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 worth $75,279,000 after purchasing an additional 9,837 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of BioMarin Pharmaceutical by 23.9% in the 1st quarter. Alliancebernstein L.P. now owns 318,979 shares of the biotechnology company's stock worth $22,549,000 after purchasing an additional 61,594 shares during the period. Institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $0.43 during midday trading on Friday, reaching $53.52. The stock had a trading volume of 571,471 shares, compared to its average volume of 1,935,109. BioMarin Pharmaceutical has a 12 month low of $52.93 and a 12 month high of $73.51. The firm's 50-day moving average price is $57.51 and its 200 day moving average price is $59.66. The firm has a market capitalization of $10.28 billion, a PE ratio of 15.87, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical Company Profile

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.