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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $88.2609.

Several brokerages have recently weighed in on BMRN. Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings upgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. HC Wainwright reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Sanford C. Bernstein reduced their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, UBS Group restated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $59.33 on Friday. BioMarin Pharmaceutical has a 12-month low of $49.26 and a 12-month high of $66.28. The company has a debt-to-equity ratio of 0.23, a current ratio of 5.81 and a quick ratio of 4.20. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 0.45 and a beta of 0.24. The firm’s fifty day moving average price is $56.54 and its 200 day moving average price is $56.84.

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Gregory R. Friberg sold 3,281 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $53.85, for a total transaction of $176,681.85. Following the completion of the transaction, the executive vice president directly owned 51,818 shares in the company, valued at approximately $2,790,399.30. This represents a 5.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.68% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. NewEdge Advisors LLC grew its holdings in BioMarin Pharmaceutical by 11.5% during the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after acquiring an additional 388 shares in the last quarter. Empowered Funds LLC increased its position in shares of 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 purchasing an additional 8,112 shares during the last quarter. Focus Partners Wealth raised its stake in shares of BioMarin Pharmaceutical by 70.2% in the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after purchasing an additional 4,876 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of BioMarin Pharmaceutical by 33.0% in 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 in the last quarter. Finally, Invesco Ltd. raised its stake in shares of BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock valued at $34,017,000 after purchasing an additional 117,617 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.