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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $90.00.

Several research firms have recently commented on BMRN. Oppenheimer reduced their price target on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $97.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Guggenheim reduced their price objective on shares of BioMarin Pharmaceutical from $106.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Finally, Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $82.00 to $60.00 in a research report on Wednesday, December 3rd.

BioMarin Pharmaceutical Stock Down 1.6%

Shares of BioMarin Pharmaceutical stock opened at $54.13 on Friday. The firm’s 50-day moving average is $58.53 and its two-hundred day moving average is $56.23. BioMarin Pharmaceutical has a 1 year low of $50.76 and a 1 year high of $73.18. The stock has a market cap of $10.41 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 0.53 and a beta of 0.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.21 and a quick ratio of 3.50.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 6,326 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the completion of the sale, the executive vice president owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. This trade represents a 14.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total transaction of $996,743.56. Following the transaction, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.5% during the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 388 shares during the last quarter. Empowered Funds LLC raised its stake in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock worth $850,000 after acquiring an additional 8,112 shares during the last quarter. Focus Partners Wealth lifted its position in BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock worth $835,000 after acquiring an additional 4,876 shares during the period. Sivia Capital Partners LLC grew its stake in BioMarin Pharmaceutical by 33.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock valued at $244,000 after purchasing an additional 1,102 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 15.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 50,753 shares of the biotechnology company’s stock valued at $2,790,000 after purchasing an additional 6,777 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.