Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) PT at $107.61

BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Free Report) has earned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $107.61.

Several analysts have commented on BMRN shares. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $101.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Finally, Piper Sandler reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd.

Read Our Latest Report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Stock Up 1.2 %

Shares of NASDAQ BMRN opened at $85.13 on Wednesday. The stock has a market capitalization of $16.06 billion, a P/E ratio of 96.74, a P/E/G ratio of 1.62 and a beta of 0.31. The company has a 50-day moving average price of $88.63 and a 200-day moving average price of $89.23. BioMarin Pharmaceutical has a 1 year low of $76.02 and a 1 year high of $100.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The firm had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same period last year, the company earned $0.11 earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 1.92 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the sale, the executive vice president now directly owns 94,047 shares in the company, valued at approximately $8,188,672.29. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,341 shares of company stock worth $5,840,586. 1.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently bought and sold shares of the business. Capital Research Global Investors increased its position in BioMarin Pharmaceutical by 79.0% during the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the last quarter. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth about $324,098,000. Barclays PLC grew its holdings in shares of BioMarin Pharmaceutical by 31.6% in the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after purchasing an additional 1,336,886 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of BioMarin Pharmaceutical by 1,832.5% in the third quarter. Toronto Dominion Bank now owns 907,754 shares of the biotechnology company’s stock worth $80,318,000 after purchasing an additional 860,782 shares during the last quarter. Finally, Viking Global Investors LP grew its holdings in shares of BioMarin Pharmaceutical by 16.0% in the fourth quarter. Viking Global Investors LP now owns 4,889,454 shares of the biotechnology company’s stock worth $471,441,000 after purchasing an additional 673,998 shares during the last quarter. Hedge funds and other institutional investors own 92.78% of the company’s stock.

About BioMarin Pharmaceutical

(Get Free Report

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.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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