BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $102.00 Consensus Price Target from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received a consensus rating of “Moderate Buy” from the twenty brokerages that are covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $102.00.

A number of analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Canaccord Genuity Group reiterated a “hold” rating and issued a $89.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 25th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday. Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, July 22nd.

BioMarin Pharmaceutical Stock Down 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $84.07 on Tuesday. The firm has a market cap of $15.96 billion, a PE ratio of 78.57, a P/E/G ratio of 1.20 and a beta of 0.32. The business’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. BioMarin Pharmaceutical has a 52-week low of $73.68 and a 52-week high of $99.56.

Insider Activity

In related news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction 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 SEC, which is accessible through this link. Also, CFO Brian Mueller sold 5,000 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares in the company, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold 67,700 shares of company stock valued at $5,209,352 over the last ninety days. 1.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Capital Research Global Investors boosted its holdings in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares during the period. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $324,098,000. Principal Financial Group Inc. increased its stake in BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after acquiring an additional 616,301 shares during the period. Avoro Capital Advisors LLC raised its holdings in BioMarin Pharmaceutical by 11.7% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after acquiring an additional 401,152 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.