BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $89.9091.

Several equities research analysts recently weighed in on BMRN shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Barclays reduced their price objective on BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 28th. Raymond James Financial initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Finally, Truist Financial decreased their price objective on BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th.

BioMarin Pharmaceutical Stock Down 0.7%

NASDAQ:BMRN opened at $51.46 on Monday. BioMarin Pharmaceutical has a 52 week low of $50.76 and a 52 week high of $73.51. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average is $54.19 and its two-hundred day moving average is $56.78. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 0.68 and a beta of 0.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 90.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares in the last quarter. Nuveen LLC purchased a new position in BioMarin Pharmaceutical in the first quarter valued at $184,475,000. Norges Bank purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $112,352,000. Viking Global Investors LP raised its stake in BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after buying an additional 1,488,552 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted 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 buying 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.