Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) PT at $88.29

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-two research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $88.3333.

A number of research firms recently issued reports on BMRN. Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Canaccord Genuity Group upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and upped their target price for the stock from $84.00 to $98.00 in a research note on Tuesday, January 20th. Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a report on Tuesday. Finally, Tudor Pickering set a $88.00 price target on BioMarin Pharmaceutical in a report on Monday, November 3rd.

View Our Latest Research Report on BMRN

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $62.62 on Wednesday. BioMarin Pharmaceutical has a 52 week low of $50.76 and a 52 week high of $73.51. The business’s 50 day moving average price is $58.53 and its 200 day moving average price is $56.08. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The firm has a market cap of $12.03 billion, a P/E ratio of 35.18, a P/E/G ratio of 0.68 and a beta of 0.26.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds have recently added to or reduced their stakes in BMRN. NewEdge Advisors LLC increased its holdings in BioMarin Pharmaceutical by 11.5% in the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock valued at $266,000 after buying an additional 388 shares in the last quarter. Empowered Funds LLC grew its position in shares of BioMarin Pharmaceutical by 207.4% during the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after acquiring an additional 8,112 shares during the period. Focus Partners Wealth increased 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 increased 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, New York State Teachers Retirement System raised its holdings in BioMarin Pharmaceutical by 1.1% in the 2nd quarter. New York State Teachers Retirement System now owns 107,605 shares of the biotechnology company’s stock worth $5,915,000 after purchasing an additional 1,167 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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