BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Average PT from Brokerages

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

A number of research analysts have weighed in on BMRN shares. UBS Group increased their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price for the company. Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth $28,000. TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $36,000. CIBC Private Wealth Group LLC boosted its stake in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 663 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $65.86 on Friday. The firm has a market cap of $12.55 billion, a PE ratio of 39.44, a P/E/G ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $64.95 and a two-hundred day simple moving average of $71.78.

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.