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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received an average rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $90.00.

Several brokerages recently issued reports on BMRN. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Monday. Canaccord Genuity Group increased their price objective on BioMarin Pharmaceutical from $98.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. HC Wainwright lowered their target price on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Truist Financial boosted their target price on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Finally, Barclays upped their price target on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 16,486 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $60.46, for a total value of $996,743.56. Following the completion of the sale, the executive vice president owned 79,953 shares in the company, valued at approximately $4,833,958.38. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory R. Friberg sold 6,326 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $60.38, for a total transaction of $381,963.88. Following the completion of the sale, the executive vice president directly owned 37,578 shares in the company, valued at approximately $2,268,959.64. The trade was a 14.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in BMRN. Norges Bank purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $447,572,000. AQR Capital Management LLC lifted 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. Vestal Point Capital LP grew its position in shares of BioMarin Pharmaceutical by 261.4% in the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock valued at $178,290,000 after purchasing an additional 2,170,000 shares during the last quarter. Capital Research Global Investors increased its stake in shares of BioMarin Pharmaceutical by 547.5% during the 3rd quarter. Capital Research Global Investors now owns 2,537,596 shares of the biotechnology company’s stock worth $137,436,000 after purchasing an additional 2,145,717 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $55.03 on Friday. BioMarin Pharmaceutical has a one year low of $50.76 and a one year high of $73.18. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 0.54 and a beta of 0.25. The company has a 50-day simple moving average of $58.63 and a 200-day simple moving average of $56.28. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.50 and a current ratio of 5.21.

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.