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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus rating of “Moderate Buy” by the twenty-one analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $97.32.

BMRN has been the subject of a number of analyst reports. Bank of America lowered their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Piper Sandler increased their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Truist Financial decreased their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

BioMarin Pharmaceutical Trading Up 2.0 %

Shares of BMRN stock opened at $69.51 on Friday. BioMarin Pharmaceutical has a 1 year low of $67.75 and a 1 year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The stock’s 50 day simple moving average is $82.55 and its two-hundred day simple moving average is $83.18. The company has a market cap of $13.20 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of 0.80 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. Research analysts predict that BioMarin Pharmaceutical will post 2.39 earnings per share for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. AMI Asset Management Corp increased its stake in shares of BioMarin Pharmaceutical by 51.9% during the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after acquiring an additional 118,230 shares during the period. AGF Management Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $2,563,000. Teachers Retirement System of The State of Kentucky boosted its holdings in BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock worth $15,990,000 after buying an additional 28,837 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $5,627,000. Finally, Fisher Asset Management LLC bought a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $1,301,000. Institutional investors 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.