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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received a consensus rating of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $93.2632.

BMRN has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, August 5th. HC Wainwright started coverage on BioMarin Pharmaceutical in a research report on Monday, September 8th. They issued a “neutral” rating and a $60.00 price objective for the company. Wall Street Zen lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Zacks Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Guggenheim lifted their price target on BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, August 6th.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $53.37 on Thursday. The stock has a market cap of $10.25 billion, a P/E ratio of 15.84, a PEG ratio of 0.68 and a beta of 0.33. The company’s 50-day simple moving average is $55.42 and its 200 day simple moving average is $57.32. BioMarin Pharmaceutical has a twelve month low of $51.56 and a twelve month high of $73.51. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of BMRN. AQR Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after purchasing an additional 2,654,768 shares in the last quarter. Nuveen LLC acquired a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at approximately $184,475,000. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $112,352,000. Viking Global Investors LP increased its holdings in shares of BioMarin Pharmaceutical by 13.8% in the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of BioMarin Pharmaceutical by 212.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock valued at $112,607,000 after purchasing an additional 1,083,512 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

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.