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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average rating of “Moderate Buy” from the twenty-two analysts that are covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $98.84.

BMRN has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada lowered their price target on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, September 5th. 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. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, September 13th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA raised its position in shares of BioMarin Pharmaceutical by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock worth $1,546,988,000 after purchasing an additional 76,190 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after purchasing an additional 67,046 shares during the last quarter. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after purchasing an additional 4,756,671 shares during the last quarter. Avoro Capital Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $324,098,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $70.55 on Wednesday. The firm has a market capitalization of $13.40 billion, a PE ratio of 65.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a 1-year low of $68.83 and a 1-year high of $99.56. The company’s fifty day moving average price is $86.33 and its 200-day moving average price is $84.59.

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

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.