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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus recommendation of “Buy” from the twenty-five analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, fourteen 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 $109.22.

A number of brokerages have issued reports on BMRN. ValuEngine downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. reduced their target price on shares of BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. BidaskClub downgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Piper Jaffray Companies reissued a “buy” rating and set a $114.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $113.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th.

In related news, EVP George Eric Davis sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the sale, the executive vice president now directly owns 112,942 shares in the company, valued at approximately $10,239,321.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elaine J. Heron sold 800 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $88.90, for a total transaction of $71,120.00. Following the sale, the director now owns 38,385 shares in the company, valued at $3,412,426.50. The disclosure for this sale can be found here. Insiders have sold a total of 90,750 shares of company stock worth $8,159,588 over the last 90 days. 1.85% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. First Manhattan Co. lifted its stake in shares of BioMarin Pharmaceutical by 104.2% during the 4th quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 625 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $112,000. Toronto Dominion Bank lifted its stake in BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 243 shares in the last quarter. Commerce Bank purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $209,000. Finally, Teacher Retirement System of Texas purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth approximately $220,000. Institutional investors own 98.77% of the company’s stock.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down $0.14 during mid-day trading on Wednesday, reaching $84.98. 779,400 shares of the company’s stock were exchanged, compared to its average volume of 1,395,321. BioMarin Pharmaceutical has a twelve month low of $78.50 and a twelve month high of $100.51. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $14,920.00, a P/E ratio of -102.39 and a beta of 1.71.

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BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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