BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Average Target Price from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $94.20.

A number of equities research analysts recently issued reports on the stock. Raymond James reissued an “outperform” rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Truist Financial cut their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

Insider Transactions at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the second quarter valued at $31,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at $28,000. TD Private Client Wealth LLC lifted its holdings in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ BMRN opened at $67.02 on Friday. 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 company has a 50-day moving average of $66.31 and a 200 day moving average of $76.42. BioMarin Pharmaceutical has a 12-month low of $61.15 and a 12-month high of $99.25. The stock has a market cap of $12.77 billion, a PE ratio of 40.13, a P/E/G ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 2.49 EPS for the current fiscal year.

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.