BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $93.61 Average PT from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-four research firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $93.61.

A number of analysts have recently issued reports on BMRN shares. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th. Morgan Stanley began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, July 3rd. They set an "overweight" rating and a $97.00 price target for the company. The Goldman Sachs Group decreased their price target on shares of BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Citigroup decreased their price target 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.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the sale, the chief accounting officer directly owned 14,173 shares in the company, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vestal Point Capital LP raised its stake in shares of BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company's stock valued at $56,528,000 after purchasing an additional 460,000 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of BioMarin Pharmaceutical by 154.0% during the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company's stock valued at $221,000 after purchasing an additional 1,897 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of BioMarin Pharmaceutical by 12.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company's stock valued at $6,875,000 after purchasing an additional 10,687 shares in the last quarter. Smartleaf Asset Management LLC raised its position in BioMarin Pharmaceutical by 111.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company's stock worth $58,000 after acquiring an additional 466 shares in the last quarter. Finally, Natixis Advisors LLC bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $1,297,000. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Trading Up 2.9%

NASDAQ BMRN traded up $1.68 during mid-day trading on Tuesday, hitting $59.67. The company's stock had a trading volume of 2,086,304 shares, compared to its average volume of 1,743,370. BioMarin Pharmaceutical has a 52-week low of $52.93 and a 52-week high of $94.85. The stock's fifty day simple moving average is $57.66 and its two-hundred day simple moving average is $62.80. 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 $11.44 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 0.78 and a beta of 0.17.

BioMarin Pharmaceutical Company Profile

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.