BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $88.67 Average PT from 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 company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $88.6667.

Several research analysts have recently weighed in on the company. Oppenheimer lowered their price objective on BioMarin Pharmaceutical from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Barclays boosted their target price on BioMarin Pharmaceutical from $80.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus set a $68.00 target price on BioMarin Pharmaceutical in a report on Tuesday, February 24th. Finally, Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Monday, March 16th.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $56.47 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.20 and a current ratio of 5.81. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $66.28. The firm has a market cap of $10.91 billion, a PE ratio of 41.22, a price-to-earnings-growth ratio of 0.41 and a beta of 0.25. The firm’s fifty day moving average is $54.25 and its 200-day moving average is $56.33.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Gregory R. Friberg sold 3,281 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $53.85, for a total value of $176,681.85. Following the transaction, the executive vice president directly owned 51,818 shares in the company, valued at $2,790,399.30. The trade was a 5.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles Greg Guyer sold 16,486 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $60.46, for a total transaction of $996,743.56. Following the completion of the sale, the executive vice president directly owned 79,953 shares in the company, valued at $4,833,958.38. This trade represents a 17.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 2.2% in the first quarter. NewEdge Advisors LLC now owns 24,351 shares of the biotechnology company’s stock valued at $1,376,000 after buying an additional 525 shares during the period. Bull Harbor Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth $1,085,000. ADAR1 Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 41.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 18,200 shares of the biotechnology company’s stock worth $1,028,000 after acquiring an additional 5,300 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in BioMarin Pharmaceutical by 12.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,845 shares of the biotechnology company’s stock worth $387,000 after acquiring an additional 752 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in BioMarin Pharmaceutical by 23.9% in the 1st quarter. California State Teachers Retirement System now owns 214,859 shares of the biotechnology company’s stock valued at $12,137,000 after acquiring an additional 41,453 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.