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

Key Points

• BioMarin has a consensus analyst rating of "Moderate Buy" from 24 analysts (16 buy, 7 hold, 1 strong buy) with an average 12‑month target price of $90.
• Several brokerages recently revised price targets and ratings—Guggenheim cut its target to $86 while Barclays and Canaccord raised theirs to $105 and $104—showing mixed but generally upward analyst adjustments.
• Company insiders recently sold shares (EVPs Charles Greg Guyer sold 16,486 shares and Gregory R. Friberg sold 6,326), cutting their stakes and leaving insider ownership at about 0.85%.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $90.00.

A number of brokerages have weighed in on BMRN. Guggenheim decreased their price objective on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Barclays upped their price objective on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Canaccord Genuity Group upped their price objective on shares of BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Sanford C. Bernstein upped their price objective on shares of BioMarin Pharmaceutical from $90.00 to $94.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price objective on shares of BioMarin Pharmaceutical from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th.

Insider Activity

In related news, EVP Charles Greg Guyer sold 16,486 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the transaction, the executive vice president owned 79,953 shares in the company, valued at $4,833,958.38. This represents a 17.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory R. Friberg sold 6,326 shares of the company's stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total transaction of $381,963.88. Following the transaction, the executive vice president owned 37,578 shares of the company's stock, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMRN. Activest Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $26,000. Quent Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 179 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company's stock worth $40,000 after purchasing an additional 360 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Trading Up 1.7%

Shares of BioMarin Pharmaceutical stock opened at $57.20 on Thursday. The firm has a 50-day simple moving average of $58.40 and a two-hundred day simple moving average of $56.25. The company has a market cap of $11.00 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 0.55 and a beta of 0.29. BioMarin Pharmaceutical has a fifty-two week low of $50.76 and a fifty-two week high of $66.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21.

BioMarin Pharmaceutical Company Profile

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.

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