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

by · The Markets Daily

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Free Report) has received an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $102.00.

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Tuesday. Baird R W downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird downgraded BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $104.00 to $72.00 in a research report on Friday, May 17th. Finally, Scotiabank boosted their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 25th.

Read Our Latest Research Report on BioMarin Pharmaceutical

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the transaction, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,773,906.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the sale, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $38,769,010.28. The disclosure for this sale can be found here. Insiders have sold 67,700 shares of company stock worth $5,209,352 over the last ninety days. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently modified their holdings of BMRN. Nordea Investment Management AB raised its position in BioMarin Pharmaceutical by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 544 shares during the last quarter. Advisor Resource Council bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,000. State of Alaska Department of Revenue lifted its stake in BioMarin Pharmaceutical by 1.3% in the fourth quarter. State of Alaska Department of Revenue now owns 27,965 shares of the biotechnology company’s stock worth $2,696,000 after acquiring an additional 360 shares during the period. Manning & Napier Group LLC boosted its holdings in BioMarin Pharmaceutical by 0.5% in the fourth quarter. Manning & Napier Group LLC now owns 1,145,113 shares of the biotechnology company’s stock valued at $110,412,000 after acquiring an additional 6,161 shares in the last quarter. Finally, Griffin Asset Management Inc. increased its position in BioMarin Pharmaceutical by 2.7% during the 4th quarter. Griffin Asset Management Inc. now owns 17,473 shares of the biotechnology company’s stock valued at $1,685,000 after purchasing an additional 453 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $84.07 on Tuesday. BioMarin Pharmaceutical has a 52-week low of $73.68 and a 52-week high of $99.56. The stock’s 50-day simple moving average is $81.89 and its 200 day simple moving average is $85.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The stock has a market capitalization of $15.96 billion, a price-to-earnings ratio of 78.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32.

About BioMarin Pharmaceutical

(Get Free Report

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.

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