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

Key Points

• Analysts give BioMarin an average rating of Moderate Buy from 24 firms (17 buys, 6 holds, 1 sell) with an average 12‑month target price of $90.00.
• Shares trade around $58.51 (12‑month range $50.76–$73.18) with a market cap of $11.25B, a P/E of 32.87, strong liquidity (current ratio 5.21) and low leverage (debt/equity 0.10).
• Recent insider selling by two EVPs (16,486 and 6,326 shares) reduced their stakes; insiders own about 0.85% of the stock while institutional investors hold roughly 98.71%.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twenty-four ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $90.00.

A number of equities research analysts recently issued reports on the company. Guggenheim reduced their price target on BioMarin Pharmaceutical from $106.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings restated a "sell (d)" rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Barclays boosted their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Jefferies Financial Group reissued a "buy" rating and issued a $103.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Oppenheimer cut their price target on shares of BioMarin Pharmaceutical from $98.00 to $95.00 and set an "outperform" rating for the company in a report on Tuesday, February 24th.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $58.51 on Friday. The firm has a 50-day moving average price of $58.96 and a two-hundred day moving average price of $56.33. BioMarin Pharmaceutical has a 12-month low of $50.76 and a 12-month high of $73.18. The company has a market capitalization of $11.25 billion, a P/E ratio of 32.87, a P/E/G ratio of 0.57 and a beta of 0.25. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10.

Insider Buying and Selling at BioMarin Pharmaceutical

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

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in BMRN. Dodge & Cox grew its stake in shares of BioMarin Pharmaceutical by 1.0% during the second quarter. Dodge & Cox now owns 15,108,310 shares of the biotechnology company's stock worth $830,504,000 after buying an additional 153,070 shares during the last quarter. Viking Global Investors LP boosted its holdings in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock valued at $675,505,000 after acquiring an additional 1,488,552 shares in the last quarter. Norges Bank bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth $447,572,000. AQR Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 12.7% in the 4th quarter. AQR Capital Management LLC now owns 6,686,916 shares of the biotechnology company's stock worth $395,197,000 after purchasing an additional 754,807 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in BioMarin Pharmaceutical by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,674,089 shares of the biotechnology company's stock valued at $218,395,000 after purchasing an additional 131,969 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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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