BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus rating of “Moderate Buy” from the twenty-three brokerages that are covering the company, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $94.20.

BMRN has been the subject of a number of research analyst reports. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. cut their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in BMRN. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. TD Private Client Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the period. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical during the fourth quarter worth $36,000. CIBC Private Wealth Group LLC grew its holdings in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $64.85 on Friday. The stock has a market cap of $12.36 billion, a PE ratio of 38.83, a P/E/G ratio of 0.57 and a beta of 0.28. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The business’s 50-day moving average price is $64.90 and its two-hundred day moving average price is $71.69.

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.