UBS Group Issues Positive Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

Key Points

• UBS Group has raised its target price for BioMarin Pharmaceutical (NASDAQ:BMRN) from $113.00 to $114.00, indicating a potential upside of 89.02% based on the stock's previous close.
• BioMarin currently holds a consensus rating of "Moderate Buy" with 19 analysts rated as buy, and an average target price of $93.78.
• In recent trading, BMRN stock saw a rise of 3.7% and is positioned at a market capitalization of $11.57 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) had its price target upped by UBS Group from $113.00 to $114.00 in a report issued on Tuesday,Benzinga reports. UBS Group currently has a buy rating on the biotechnology company's stock.

A number of other equities research analysts have also weighed in on the stock. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Morgan Stanley cut 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. The Goldman Sachs Group decreased their price target on BioMarin Pharmaceutical from $124.00 to $104.00 and set a "buy" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. raised 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. Finally, Wall Street Zen downgraded BioMarin Pharmaceutical from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $93.17.

BioMarin Pharmaceutical Stock Down 2.0%

Shares of BMRN opened at $60.67 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.49 and a current ratio of 5.56. BioMarin Pharmaceutical has a 52 week low of $52.93 and a 52 week high of $94.85. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.85 and a beta of 0.18. The stock has a fifty day moving average of $57.24 and a 200-day moving average of $61.79.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,786 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the transaction, the chief accounting officer owned 14,173 shares in the company, valued at approximately $840,600.63. This represents a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently modified their holdings of the stock. Byrne Financial Freedom LLC increased its holdings in BioMarin Pharmaceutical by 4.4% in 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 last quarter. Freedom Investment Management Inc. boosted its holdings in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after buying an additional 184 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its holdings in BioMarin Pharmaceutical by 0.9% during 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 acquiring an additional 197 shares during the period. Securian Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 1.4% in the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company's stock worth $803,000 after acquiring an additional 197 shares during the period. Finally, Xponance Inc. lifted its holdings in BioMarin Pharmaceutical by 0.6% during the 1st quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock worth $2,253,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other 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.