BioMarin Pharmaceutical's (BMRN) "Sell (D+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for BioMarin Pharmaceutical (BMRN) in a recent report, indicating a cautious outlook on the stock's future performance.
• Recent analyst activity shows a mixed sentiment, with Morgan Stanley lowering its price target from $97 to $96 while UBS Group raised it from $113 to $114, reflecting varied perspectives on the stock's potential.
• Institutional investors dominate BioMarin Pharmaceutical's ownership, holding 98.71% of the company's stock, highlighting significant institutional interest in the biotechnology firm.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other analysts also recently issued reports on the company. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. UBS Group lifted 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. HC Wainwright started coverage on shares of BioMarin Pharmaceutical in a research note on Monday, September 8th. They issued a "neutral" rating and a $60.00 price target on the stock. Wall Street Zen raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Wolfe Research set a $95.00 price objective on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a report on Tuesday, July 15th. Thirteen investment 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. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and an average price target of $92.95.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded down $0.01 during mid-day trading on Wednesday, hitting $54.69. 1,292,568 shares of the company were exchanged, compared to its average volume of 1,944,169. BioMarin Pharmaceutical has a 1-year low of $52.47 and a 1-year high of $73.51. The stock has a market capitalization of $10.50 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 0.71 and a beta of 0.33. The business has a 50 day simple moving average of $56.64 and a 200-day simple moving average of $58.47. 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 Trading of BioMarin Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in BMRN. AQR Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 90.7% during the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company's stock worth $306,429,000 after buying an additional 2,654,768 shares in the last quarter. Nuveen LLC acquired a new position in BioMarin Pharmaceutical in the 1st quarter worth about $184,475,000. Norges Bank bought a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $112,352,000. Viking Global Investors LP grew its holdings in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after acquiring an additional 1,488,552 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in BioMarin Pharmaceutical by 212.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after acquiring an additional 1,083,512 shares during the last quarter. Institutional investors and hedge funds 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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