BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $132.00 Price Target at Morgan Stanley

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) had its price objective increased by Morgan Stanley from $113.00 to $132.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of a number of other reports. Credit Suisse Group decreased their price target on BioMarin Pharmaceutical from $111.00 to $110.00 and set an outperform rating on the stock in a research note on Thursday, October 27th. Jefferies Financial Group boosted their target price on BioMarin Pharmaceutical from $100.00 to $120.00 and gave the company a buy rating in a research note on Tuesday, November 29th. Royal Bank of Canada boosted their target price on BioMarin Pharmaceutical from $90.00 to $95.00 and gave the company a sector perform rating in a research note on Thursday, October 13th. Evercore ISI boosted their target price on BioMarin Pharmaceutical to $130.00 in a research note on Friday, December 2nd. Finally, Guggenheim boosted their target price on BioMarin Pharmaceutical from $120.00 to $125.00 in a research note on Monday, January 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $120.12.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $113.82 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.15 and a quick ratio of 3.54. The business’s 50 day simple moving average is $103.98 and its two-hundred day simple moving average is $93.89. The stock has a market capitalization of $21.11 billion, a P/E ratio of 271.00 and a beta of 0.36. BioMarin Pharmaceutical has a one year low of $70.73 and a one year high of $114.80.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. The business had revenue of $505.30 million for the quarter, compared to analysts’ expectations of $516.03 million. BioMarin Pharmaceutical had a return on equity of 2.50% and a net margin of 4.18%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. Analysts forecast that BioMarin Pharmaceutical will post 0.87 EPS for the current year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,379 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $98.73, for a total value of $531,068.67. Following the sale, the chief financial officer now directly owns 28,847 shares of the company’s stock, valued at $2,848,064.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $86.55, for a total value of $129,825.00. Following the sale, the chief executive officer now directly owns 322,824 shares of the company’s stock, valued at $27,940,417.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian Mueller sold 5,379 shares of the business’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $98.73, for a total value of $531,068.67. Following the completion of the sale, the chief financial officer now directly owns 28,847 shares in the company, valued at $2,848,064.31. The disclosure for this sale can be found here. Insiders have sold a total of 44,380 shares of company stock valued at $4,706,718 over the last ninety days. Company insiders own 1.75% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in BioMarin Pharmaceutical in the third quarter worth $25,000. Quadrant Capital Group LLC lifted its holdings in shares of BioMarin Pharmaceutical by 188.6% during the second quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Baystate Wealth Management LLC bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at $41,000. Acadian Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 395.4% during the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1,014.6% during the second quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 487 shares in the last quarter. 96.26% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Company Profile

(Get Rating)

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.