BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to "Buy" Rating by Wall Street Zen

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

A number of other analysts have also recently commented on BMRN. Citigroup reduced their price objective on BioMarin Pharmaceutical from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the company an "outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday. The Goldman Sachs Group cut their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Morgan Stanley started coverage on BioMarin Pharmaceutical in a research note on Thursday, July 3rd. They set an "overweight" rating and a $97.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $93.78.

BioMarin Pharmaceutical Stock Down 1.9%

Shares of NASDAQ BMRN traded down $1.08 during mid-day trading on Friday, hitting $57.29. 1,740,774 shares of the stock traded hands, compared to its average volume of 1,756,889. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.52. BioMarin Pharmaceutical has a 52 week low of $52.93 and a 52 week high of $94.85. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 0.81 and a beta of 0.17. The stock has a fifty day moving average price of $57.21 and a 200-day moving average price of $62.37.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was 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 directly owned 14,173 shares in the company, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of 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 in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $25,000. LRI Investments LLC increased its holdings in BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after buying an additional 437 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock valued at $37,000 after buying an additional 218 shares during the last quarter. 98.71% of the stock is currently 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.

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.