HC Wainwright Begins Coverage on BioMarin Pharmaceutical (NASDAQ:BMRN)

Key Points

• HC Wainwright has initiated coverage on BioMarin Pharmaceutical (NASDAQ:BMRN) with a "neutral" rating and a price target of $60.00, suggesting a potential upside of 3.86% from the current stock price.
• Other analysts, including JPMorgan Chase & Co. and Guggenheim, have varying perspectives with price targets ranging from $96.00 to $113.00 and ratings from "buy" to "overweight."
• BioMarin currently holds a "Moderate Buy" consensus rating, with 18 analysts recommending it as a buy and 8 as a hold, along with an average price target of $92.04.

HC Wainwright began coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) in a research report report published on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $60.00 price target on the biotechnology company's stock.

Other equities analysts have also recently issued research reports about the stock. Wedbush restated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Morgan Stanley decreased their price objective on shares of BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They issued an "outperform" rating and a $85.00 price objective on the stock. Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Eighteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.04.

BioMarin Pharmaceutical Trading Down 3.3%

BMRN stock traded down $1.82 during trading on Monday, hitting $54.09. 1,929,839 shares of the company traded hands, compared to its average volume of 1,659,422. The firm has a market capitalization of $10.39 billion, a PE ratio of 16.05, a P/E/G ratio of 0.71 and a beta of 0.35. BioMarin Pharmaceutical has a 1 year low of $52.93 and a 1 year high of $85.00. The company has a 50-day moving average of $58.02 and a 200-day moving average of $60.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its stake in shares of BioMarin Pharmaceutical by 54.8% during the 2nd quarter. Osaic Holdings Inc. now owns 5,064 shares of the biotechnology company's stock valued at $283,000 after purchasing an additional 1,793 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 0.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 38,890 shares of the biotechnology company's stock valued at $2,138,000 after purchasing an additional 250 shares in the last quarter. Marex Group plc bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $755,000. State of Wyoming boosted its stake in BioMarin Pharmaceutical by 124.3% during the second quarter. State of Wyoming now owns 13,013 shares of the biotechnology company's stock worth $715,000 after acquiring an additional 7,212 shares in the last quarter. Finally, Caxton Associates LLP bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $339,000. Institutional investors own 98.71% of the company's stock.

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.