BioMarin Pharmaceutical (NASDAQ:BMRN) Receives Sell (D+) Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated BioMarin Pharmaceutical's stock rating as "sell (D+)", reflecting ongoing caution regarding the company's performance.
• Various analysts have differing views on BioMarin, with 13 ratings as "Buy", 8 as "Hold", and 1 as "Sell", leading to a consensus rating of "Moderate Buy" with a target price of $93.26.
• BioMarin's stock recently traded at $54.48, down $0.07, and the company has seen significant changes in institutional ownership, with nearly 99% of shares held by institutional investors.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report)'s stock had its "sell (d+)" rating restated by Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

BMRN has been the topic of a number of other research reports. HC Wainwright started coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They set a "neutral" rating and a $60.00 target price on the stock. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Guggenheim lifted their target price on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. UBS Group lifted their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen cut BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 11th. Thirteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus target price of $93.26.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN traded down $0.07 during trading hours on Friday, reaching $54.48. 2,101,179 shares of the company traded hands, compared to its average volume of 1,966,420. The firm's 50-day moving average is $55.35 and its 200-day moving average is $57.29. The stock has a market cap of $10.46 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.67 and a beta of 0.33. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60. BioMarin Pharmaceutical has a 1-year low of $51.56 and a 1-year high of $73.51.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at approximately $30,000. Brooklyn Investment Group boosted its stake in BioMarin Pharmaceutical by 2,250.0% in the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 540 shares during the period. Hantz Financial Services Inc. boosted its position in shares of BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company's stock worth $58,000 after buying an additional 874 shares during the period. Finally, Employees Retirement System of Texas acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth approximately $58,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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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