Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Price Target at $107.61

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $107.61.

A number of brokerages have weighed in on BMRN. Cantor Fitzgerald restated an “overweight” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Stifel Nicolaus restated a “buy” rating and issued a $101.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Canaccord Genuity Group reiterated a “hold” rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Finally, Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the sale, the director now directly owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Jeffrey Robert Ajer sold 4,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the completion of the sale, the executive vice president now directly owns 94,047 shares of the company’s stock, valued at $8,188,672.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock worth $9,062,967 over the last quarter. Company insiders own 1.84% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. New England Research & Management Inc. bought a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $1,341,000. Capital Insight Partners LLC bought a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $209,000. Gateway Investment Advisers LLC increased its position in shares of BioMarin Pharmaceutical by 65.2% during the first quarter. Gateway Investment Advisers LLC now owns 21,320 shares of the biotechnology company’s stock worth $1,862,000 after acquiring an additional 8,415 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $5,119,000. Finally, Vanguard Group Inc. boosted its holdings in BioMarin Pharmaceutical by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock worth $1,740,387,000 after purchasing an additional 348,852 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $90.87 on Friday. 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. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 103.26, a price-to-earnings-growth ratio of 1.76 and a beta of 0.31. The company’s 50 day simple moving average is $87.55 and its 200 day simple moving average is $89.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share 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 for the quarter, compared to analyst estimates of $639.53 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, research analysts predict that BioMarin Pharmaceutical will post 1.93 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.