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

Key Points

• BioMarin Pharmaceutical has a consensus analyst rating of “Moderate Buy” from 24 brokerages, with 15 buy ratings, 8 hold ratings, and 1 strong buy. The average 12-month price target is about $88.26.
• Recent analyst moves were mixed: Bank of America trimmed its target to $80 while keeping a buy rating, Goldman Sachs started coverage with a neutral rating and a $69 target, and Canaccord Genuity lowered its target to $111 but stayed bullish.
• The stock traded around $59.59, near its 52-week range of $49.26 to $66.28, while the company reported strong liquidity with a quick ratio of 4.20 and a current ratio of 5.81. Institutional investors still hold the vast majority of shares, at 98.71%.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-four brokerages that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $88.2609.

A number of equities analysts have recently commented on BMRN shares. Bank of America cut their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. HC Wainwright reiterated a "neutral" rating on shares of BioMarin Pharmaceutical in a research note on Tuesday. Weiss Ratings upgraded shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a "neutral" rating and a $69.00 price objective on the stock. Finally, Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, EVP Gregory R. Friberg sold 3,281 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the transaction, the executive vice president owned 51,818 shares of the company's stock, valued at $2,790,399.30. This trade represents a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.85% of the company's stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB grew its stake in shares of BioMarin Pharmaceutical by 7.2% in the 2nd quarter. Handelsbanken Fonder AB now owns 62,700 shares of the biotechnology company's stock valued at $3,588,000 after purchasing an additional 4,200 shares during the last quarter. Everhart Financial Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 34.2% in the second quarter. Everhart Financial Group Inc. now owns 6,995 shares of the biotechnology company's stock valued at $400,000 after purchasing an additional 1,784 shares during the period. GAMMA Investing LLC raised its stake in shares of BioMarin Pharmaceutical by 43.5% during the second quarter. GAMMA Investing LLC now owns 2,422 shares of the biotechnology company's stock worth $139,000 after purchasing an additional 734 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of BioMarin Pharmaceutical by 310.5% during the second quarter. Versant Capital Management Inc now owns 2,549 shares of the biotechnology company's stock worth $146,000 after purchasing an additional 1,928 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 2.2% during the first quarter. NewEdge Advisors LLC now owns 24,351 shares of the biotechnology company's stock worth $1,376,000 after purchasing an additional 525 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 0.7%

BMRN opened at $59.59 on Friday. The company has a quick ratio of 4.20, a current ratio of 5.81 and a debt-to-equity ratio of 0.23. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $66.28. The business's 50 day moving average is $55.92 and its two-hundred day moving average is $56.85. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24.

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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