BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Average Rating of “Moderate Buy” by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus recommendation of “Moderate Buy” by the twenty-three brokerages that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $93.45.

Several analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, UBS Group boosted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the transaction, the chief accounting officer now owns 14,173 shares of the company’s stock, valued at $840,600.63. The trade was a 11.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 3,354 shares of company stock valued at $216,269 over the last ninety days. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently modified their holdings of the company. Norges Bank purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $234,645,000. Nuveen LLC purchased a new position in BioMarin Pharmaceutical during the 1st quarter worth $184,475,000. Capital Research Global Investors grew its holdings in shares of BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the last quarter. AQR Capital Management LLC increased its position in BioMarin Pharmaceutical by 127.9% in the 1st quarter. AQR Capital Management LLC now owns 2,925,805 shares of the biotechnology company’s stock valued at $203,987,000 after acquiring an additional 1,642,206 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake 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 valued at $112,607,000 after acquiring an additional 1,083,512 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $57.28 on Friday. BioMarin Pharmaceutical has a 52 week low of $52.93 and a 52 week high of $94.85. The stock’s fifty day moving average is $59.10 and its two-hundred day moving average is $64.06. The company has a market capitalization of $10.98 billion, a P/E ratio of 26.04, a P/E/G ratio of 0.61 and a beta of 0.19. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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.