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

Key Points

• BioMarin Pharmaceutical has received a consensus recommendation of "Moderate Buy" from 22 ratings firms, with an average 1-year price target of $93.26.
• The stock recently increased by 1.2%, opening at $53.09, with a market capitalization of $10.19 billion.
• Institutional investors have significantly increased their holdings in BioMarin, with 98.71% of the stock now owned by these entities.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-two ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $93.2632.

BMRN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an "overweight" rating in a report on Thursday, October 9th. HC Wainwright began coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 price objective on the stock. Zacks Research lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Wall Street Zen lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 11th. Finally, Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd.

BioMarin Pharmaceutical Stock Up 1.2%

BMRN stock opened at $53.09 on Thursday. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $10.19 billion, a PE ratio of 15.75, a PEG ratio of 0.73 and a beta of 0.33. BioMarin Pharmaceutical has a 1-year low of $51.56 and a 1-year high of $73.51. The business's 50 day simple moving average is $55.87 and its 200 day simple moving average is $57.79.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted 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 valued at $29,000 after acquiring an additional 211 shares during the period. GAMMA Investing LLC lifted its position in shares of BioMarin Pharmaceutical by 154.0% during the 1st quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after acquiring an additional 1,897 shares during the period. Fifth Third Bancorp lifted its position in shares of BioMarin Pharmaceutical by 76.2% during the 1st quarter. Fifth Third Bancorp now owns 2,381 shares of the biotechnology company's stock valued at $168,000 after acquiring an additional 1,030 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of BioMarin Pharmaceutical by 92.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 44,584 shares of the biotechnology company's stock valued at $3,152,000 after acquiring an additional 21,383 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of BioMarin Pharmaceutical by 5.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 19,796 shares of the biotechnology company's stock valued at $1,399,000 after acquiring an additional 979 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

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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