BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $93.45 Average Price Target from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $93.45.

Several research analysts recently weighed in on BMRN shares. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research note on Monday, February 24th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Bank of America boosted their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th.

BioMarin Pharmaceutical Trading Down 2.4%

BMRN opened at $58.48 on Monday. The firm has a 50 day simple moving average of $62.97 and a 200 day simple moving average of $64.91. BioMarin Pharmaceutical has a fifty-two week low of $52.93 and a fifty-two week high of $94.85. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 26.58, a price-to-earnings-growth ratio of 0.61 and a beta of 0.27. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, sell-side analysts anticipate that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 4,698 shares of company stock worth $308,172 in the last 90 days. Corporate insiders own 0.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $317,000. Swedbank AB lifted its holdings in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after purchasing an additional 43,593 shares during the last quarter. Vestal Point Capital LP boosted its position in BioMarin Pharmaceutical by 115.0% during the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company’s stock worth $56,528,000 after purchasing an additional 460,000 shares during the period. Rhumbline Advisers increased its holdings in shares of BioMarin Pharmaceutical by 2.0% in the fourth quarter. Rhumbline Advisers now owns 556,255 shares of the biotechnology company’s stock valued at $36,563,000 after purchasing an additional 11,025 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $1,237,000. Institutional investors own 98.71% of the company’s stock.

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.