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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-three research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $93.45.

BMRN has been the topic of a number of research reports. 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. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $1.06 during trading on Friday, reaching $56.22. The company had a trading volume of 1,623,311 shares, compared to its average volume of 1,840,299. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 25.55, a price-to-earnings-growth ratio of 0.61 and a beta of 0.19. 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 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The firm has a 50-day simple moving average of $59.10 and a 200-day simple moving average of $64.06.

Insider Activity

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares of the company's stock, valued at $1,212,621.60. This trade represents a 7.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 3,354 shares of company stock worth $216,269. 0.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its stake in BioMarin Pharmaceutical by 95.9% in the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Rise Advisors LLC bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at $30,000. LRI Investments LLC increased its position in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock worth $32,000 after buying an additional 437 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical during the fourth quarter valued at about $36,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after buying an additional 218 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.