BioMarin Pharmaceutical’s (BMRN) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report sent to investors on Thursday, Benzinga reports. Cantor Fitzgerald currently has a $110.00 price target on the biotechnology company’s stock.

BMRN has been the topic of several other research reports. Royal Bank of Canada reiterated a sector perform rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating on the stock in a research note on Tuesday, January 30th. Wells Fargo & Company lifted their price target on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday. Canaccord Genuity Group reiterated a hold rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Finally, Piper Sandler decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has an average rating of Moderate Buy and an average price target of $107.50.

BioMarin Pharmaceutical Trading Down 1.5 %

Shares of BMRN stock opened at $80.91 on Thursday. BioMarin Pharmaceutical has a 12-month low of $76.02 and a 12-month high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $87.58 and its 200 day moving average is $89.14. The stock has a market capitalization of $15.27 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.51 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. Research analysts expect that BioMarin Pharmaceutical will post 1.85 earnings per share for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 completion of the sale, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,229 shares of company stock worth $9,062,967. Insiders own 1.84% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its stake in shares of BioMarin Pharmaceutical by 2.1% during the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after purchasing an additional 115 shares during the period. CWM LLC boosted its stake in shares of BioMarin Pharmaceutical by 10.0% during the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after purchasing an additional 118 shares during the period. KB Financial Partners LLC boosted its stake in shares of BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its position in BioMarin Pharmaceutical by 1.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock valued at $938,000 after buying an additional 153 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.