BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-three research firms that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $94.20.

A number of brokerages have commented on BMRN. Canaccord Genuity Group decreased their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Evercore ISI dropped their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an "outperform" rating and a $95.00 target price on the stock. Finally, Wedbush upgraded shares of BioMarin Pharmaceutical to a "strong-buy" rating in a research report on Monday, November 4th.

BioMarin Pharmaceutical Price Performance

BMRN opened at $63.93 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock has a market capitalization of $12.18 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 0.55 and a beta of 0.28. The company's 50 day simple moving average is $65.02 and its 200-day simple moving average is $72.41. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85.

Insider Buying and Selling

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company's stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in BioMarin Pharmaceutical by 34.9% during the 4th quarter. HighTower Advisors LLC now owns 41,468 shares of the biotechnology company's stock worth $2,726,000 after buying an additional 10,730 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of BioMarin Pharmaceutical by 25.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,615 shares of the biotechnology company's stock valued at $1,487,000 after acquiring an additional 4,609 shares during the last quarter. AlphaQuest LLC raised its holdings in BioMarin Pharmaceutical by 137.8% during the fourth quarter. AlphaQuest LLC now owns 10,311 shares of the biotechnology company's stock worth $678,000 after acquiring an additional 5,975 shares in the last quarter. Edgestream Partners L.P. boosted its position in BioMarin Pharmaceutical by 407.7% during the fourth quarter. Edgestream Partners L.P. now owns 144,996 shares of the biotechnology company's stock valued at $9,531,000 after purchasing an additional 116,434 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $491,000. Institutional investors own 98.71% of the company's stock.

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.

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