BioMarin Pharmaceutical (NASDAQ:BMRN) Now Covered by Analysts at HC Wainwright

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.

Stock analysts at HC Wainwright assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set a "neutral" rating and a $60.00 price target on the biotechnology company's stock. HC Wainwright's price objective indicates a potential upside of 3.86% from the stock's previous close.

BMRN has been the topic of several other research reports. JPMorgan Chase & Co. increased their price target on shares of BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a research note on Friday. Morgan Stanley dropped 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 note on Tuesday, July 22nd. Zacks Research cut shares of BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Guggenheim raised their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Eighteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average price target of $92.04.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $57.77 on Monday. BioMarin Pharmaceutical has a twelve month low of $52.93 and a twelve month high of $86.04. The company's 50 day moving average is $58.14 and its 200 day moving average is $60.87. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.09 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Byrne Financial Freedom LLC raised its holdings in shares of BioMarin Pharmaceutical by 4.4% during the 1st quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 161 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in BioMarin Pharmaceutical by 0.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock valued at $1,592,000 after buying an additional 197 shares during the period. Securian Asset Management Inc. raised its holdings in BioMarin Pharmaceutical by 1.4% in the 2nd quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company's stock valued at $803,000 after buying an additional 197 shares during the period. Sittner & Nelson LLC raised its holdings in BioMarin Pharmaceutical by 6.9% in the 2nd quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company's stock valued at $170,000 after buying an additional 200 shares during the period. Finally, Xponance Inc. raised its holdings in BioMarin Pharmaceutical by 0.6% in the 1st quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock valued at $2,253,000 after buying an additional 202 shares during the period. Hedge funds and other 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.

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