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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received an average recommendation of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $88.2917.

BMRN has been the subject of several recent research reports. Canaccord Genuity Group upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and boosted their price target for the company from $84.00 to $98.00 in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 29th. Wells Fargo & Company lowered their target price on BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Tudor Pickering set a $88.00 price target on BioMarin Pharmaceutical in a report on Monday, November 3rd.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently modified their holdings of the company. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $26,000. Quent Capital LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth $28,000. CIBC Private Wealth Group LLC increased its position in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 92.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $40,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $59.95 on Wednesday. BioMarin Pharmaceutical has a 1-year low of $50.76 and a 1-year high of $73.51. The business has a 50-day moving average price of $57.51 and a 200 day moving average price of $55.98. The company has a market capitalization of $11.52 billion, a P/E ratio of 22.54, a PEG ratio of 0.65 and a beta of 0.26. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.83 and a quick ratio of 3.10.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.