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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Moderate Buy” from the twenty-four analysts that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $90.00.

A number of research firms recently weighed in on BMRN. Jefferies Financial Group restated a “buy” rating and set a $103.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, March 12th. Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $122.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Truist Financial upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Wednesday, March 25th. Barclays lifted their target price on shares of BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings raised BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 31st.

BioMarin Pharmaceutical Stock Down 0.4%

BMRN stock opened at $55.27 on Thursday. The company has a quick ratio of 3.50, a current ratio of 5.21 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical has a twelve month low of $50.76 and a twelve month high of $66.28. The business’s 50-day moving average price is $58.19 and its 200-day moving average price is $56.31. The stock has a market cap of $10.63 billion, a P/E ratio of 31.05, a PEG ratio of 0.54 and a beta of 0.29.

Insider Buying and Selling

In related news, EVP Gregory R. Friberg sold 6,326 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.38, for a total value of $381,963.88. Following the transaction, the executive vice president directly owned 37,578 shares of the company’s stock, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles Greg Guyer sold 16,486 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the transaction, the executive vice president directly owned 79,953 shares in the company, valued at approximately $4,833,958.38. This represents a 17.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.85% of the stock is currently owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC lifted its stake in BioMarin Pharmaceutical by 78.9% in the 4th quarter. Hsbc Holdings PLC now owns 500,996 shares of the biotechnology company’s stock worth $29,789,000 after purchasing an additional 220,995 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in BioMarin Pharmaceutical by 1.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 361,571 shares of the biotechnology company’s stock worth $21,488,000 after purchasing an additional 5,043 shares in the last quarter. Wick Capital Partners LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth $256,000. River Road Asset Management LLC purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth $53,865,000. Finally, Pacer Advisors Inc. lifted its stake in BioMarin Pharmaceutical by 53.6% in the 4th quarter. Pacer Advisors Inc. now owns 937,356 shares of the biotechnology company’s stock worth $55,707,000 after purchasing an additional 327,204 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.