BioMarin Pharmaceutical (NASDAQ:BMRN) Sets New 12-Month Low - Time to Sell?

Key Points

• BioMarin Pharmaceutical's shares reached a new 52-week low of $52.08 during trading, continuing a downward trend from a previous close of $53.85.
• Analyst ratings for BioMarin are mixed, with thirteen "Buy," eight "Hold," and one "Sell" rating, while the average target price across analysts is $93.26.
• Institutional investors hold nearly 99% of BioMarin's stock, with significant recent stake increases from firms like Farther Finance Advisors and Hantz Financial Services.

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) hit a new 52-week low during trading on Friday . The company traded as low as $52.27 and last traded at $52.08, with a volume of 702239 shares traded. The stock had previously closed at $53.85.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BMRN. Morgan Stanley reduced their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Zacks Research cut BioMarin Pharmaceutical from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. UBS Group increased their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, HC Wainwright started coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a "neutral" rating and a $60.00 target price for the company. Thirteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $93.26.

BioMarin Pharmaceutical Price Performance

The stock has a fifty day moving average of $56.48 and a two-hundred day moving average of $58.32. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 0.69 and a beta of 0.33. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. Farther Finance Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 95.9% in the 1st quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock valued at $29,000 after buying an additional 211 shares during the period. Rise Advisors LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 1st quarter valued at $30,000. Brooklyn Investment Group increased its stake in shares of BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company's stock valued at $40,000 after buying an additional 540 shares during the period. Finally, Hantz Financial Services Inc. increased its stake in shares of BioMarin Pharmaceutical by 480.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company's stock valued at $58,000 after buying an additional 874 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

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.

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