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

Key Points

• BioMarin Pharmaceutical Inc. has been given a consensus recommendation of "Moderate Buy" by 24 analysts, with 18 recommending buying and 6 suggesting holding the stock.
• The average 12-month price target among analysts for BioMarin is $93.74, reflecting varied target adjustments from multiple financial institutions.
• Insider trading reveals CAO Erin Burkhart sold 1,786 shares, decreasing their ownership by 11.19%, while institutional investors hold approximately 98.71% of the company's stock.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-four analysts that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $93.74.

BMRN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Citigroup dropped their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group dropped their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Morgan Stanley lowered their price objective 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. Finally, Wall Street Zen lowered BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th.

Insider Activity

In other news, CAO Erin Burkhart sold 1,786 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer owned 14,173 shares of the company's stock, valued at approximately $840,600.63. This trade represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Byrne Financial Freedom LLC increased its holdings in shares of BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock valued at $272,000 after purchasing an additional 161 shares during the period. Freedom Investment Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 3.8% in the fourth quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock valued at $330,000 after purchasing an additional 184 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 0.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock valued at $1,592,000 after purchasing an additional 197 shares during the period. Securian Asset Management Inc. increased its holdings in shares of BioMarin Pharmaceutical by 1.4% in the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company's stock valued at $803,000 after purchasing an additional 197 shares during the period. Finally, Xponance Inc. boosted its stake in shares of BioMarin Pharmaceutical by 0.6% in the first quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock valued at $2,253,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

BMRN opened at $58.14 on Friday. The business's 50-day moving average is $57.10 and its two-hundred day moving average is $61.80. BioMarin Pharmaceutical has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.52 and a quick ratio of 3.49. The firm has a market capitalization of $11.15 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 0.80 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.