BioMarin Pharmaceutical (NASDAQ:BMRN) Earns Outperform Rating from Wedbush

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research report issued on Tuesday,RTT News reports. They presently have a $94.00 target price on the biotechnology company’s stock. Wedbush’s target price suggests a potential upside of 54.94% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research set a $95.00 price objective on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $97.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Citigroup lowered their target price on BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. UBS Group raised their target price on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group lowered their target price 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. Six research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.17.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $60.67 on Tuesday. The company has a current ratio of 5.56, a quick ratio of 3.49 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $11.64 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.18. The business’s 50-day moving average price is $57.24 and its 200-day moving average price is $61.79. BioMarin Pharmaceutical has a 12 month low of $52.93 and a 12 month high of $94.85.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,786 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $59.31, for a total transaction of $105,927.66. Following the completion of the sale, the chief accounting officer owned 14,173 shares of the company’s stock, valued at approximately $840,600.63. The trade was a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently modified their holdings of the stock. Dodge & Cox raised its stake in shares of BioMarin Pharmaceutical by 1.4% during the 1st quarter. Dodge & Cox now owns 14,955,240 shares of the biotechnology company’s stock valued at $1,057,186,000 after buying an additional 209,005 shares during the last quarter. Capital Research Global Investors raised its stake in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of BioMarin Pharmaceutical by 127.9% during 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 buying an additional 1,642,206 shares during the last quarter. Nuveen LLC purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter valued at about $184,475,000. Finally, Northern Trust Corp raised its stake in shares of BioMarin Pharmaceutical by 16.2% during the 4th quarter. Northern Trust Corp now owns 1,725,039 shares of the biotechnology company’s stock valued at $113,387,000 after buying an additional 240,681 shares during the last quarter. Hedge funds and other institutional investors 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.