BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $93.61 Consensus Price Target from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-four ratings firms that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $93.61.

Several equities research analysts have commented on the company. Morgan Stanley started coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They issued an "overweight" rating and a $97.00 target price on the stock. Citigroup lowered their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their target price on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Friday, April 25th.

BioMarin Pharmaceutical Stock Down 1.2%

Shares of BioMarin Pharmaceutical stock traded down $0.72 on Tuesday, hitting $58.10. The company had a trading volume of 2,032,043 shares, compared to its average volume of 1,749,244. BioMarin Pharmaceutical has a twelve month low of $52.93 and a twelve month 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 stock has a 50-day moving average of $57.51 and a 200-day moving average of $62.73. The firm has a market capitalization of $11.14 billion, a P/E ratio of 21.60, a P/E/G ratio of 0.82 and a beta of 0.17.

Insider Activity

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Smartleaf Asset Management LLC increased its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock valued at $58,000 after purchasing an additional 466 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $36,000. Charles Schwab Investment Management Inc. raised its position in BioMarin Pharmaceutical by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,423,508 shares of the biotechnology company's stock valued at $93,567,000 after buying an additional 21,880 shares during the last quarter. Assetmark Inc. raised its position in BioMarin Pharmaceutical by 1,391.9% in the 4th quarter. Assetmark Inc. now owns 4,953 shares of the biotechnology company's stock valued at $326,000 after buying an additional 4,621 shares during the last quarter. Finally, M&T Bank Corp raised its position in BioMarin Pharmaceutical by 9.5% in the 4th quarter. M&T Bank Corp now owns 7,085 shares of the biotechnology company's stock valued at $466,000 after buying an additional 616 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

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.