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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $106.10.

Several equities research analysts have weighed in on BMRN shares. Wells Fargo & Company increased their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Baird R W cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 17th. Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $104.00 to $72.00 in a research note on Friday, May 17th. Evercore ISI boosted their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Finally, TD Cowen lowered their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th.

BioMarin Pharmaceutical Stock Up 0.6 %

BioMarin Pharmaceutical stock opened at $84.85 on Wednesday. The business’s 50-day simple moving average is $86.62 and its two-hundred day simple moving average is $84.93. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The company has a market cap of $16.11 billion, a PE ratio of 79.30, a PEG ratio of 1.02 and a beta of 0.31. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $31,000. Quent Capital LLC lifted its stake in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after buying an additional 249 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.