BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 52-Week Low – Should You Sell?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares reached a new 52-week low during trading on Friday . The stock traded as low as $50.76 and last traded at $51.1340, with a volume of 667973 shares changing hands. The stock had previously closed at $51.84.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Zacks Research downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial assumed coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, October 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $61.00 price target (down from $73.00) on shares of BioMarin Pharmaceutical in a report on Thursday. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

BioMarin Pharmaceutical Trading Down 1.5%

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 business’s fifty day moving average is $54.33 and its 200 day moving average is $56.90. The stock has a market cap of $9.81 billion, a PE ratio of 19.21, a P/E/G ratio of 0.68 and a beta of 0.33.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently added to or reduced their stakes in BMRN. V Square Quantitative Management LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth about $25,000. Quent Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,000. Rise Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $30,000. Brooklyn Investment Group raised its position in shares of BioMarin Pharmaceutical by 2,250.0% during the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 540 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.