BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to “Hold” at StockNews.com

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also recently issued reports on BMRN. Morgan Stanley upgraded BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $96.00 to $113.00 in a research note on Monday, April 25th. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, May 4th. Wedbush dropped their price objective on BioMarin Pharmaceutical from $155.00 to $147.00 in a research note on Thursday, April 28th. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, February 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $96.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 3rd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus price target of $111.93.

NASDAQ BMRN opened at $80.97 on Monday. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 449.83, a PEG ratio of 1.70 and a beta of 0.41. The stock’s 50 day moving average price is $80.36 and its two-hundred day moving average price is $83.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. BioMarin Pharmaceutical has a 52 week low of $71.59 and a 52 week high of $94.20.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last released its earnings results on Wednesday, April 27th. The biotechnology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.15 by $0.16. BioMarin Pharmaceutical had a return on equity of 1.36% and a net margin of 2.09%. The firm had revenue of $519.36 million for the quarter, compared to analysts’ expectations of $505.11 million. During the same quarter in the previous year, the business posted $0.29 EPS. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 0.94 EPS for the current year.

In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 11,800 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $84.50, for a total value of $997,100.00. Following the transaction, the chief financial officer now directly owns 38,639 shares of the company’s stock, valued at approximately $3,264,995.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on Monday, April 18th. The shares were sold at an average price of $81.91, for a total value of $1,638,200.00. Following the completion of the transaction, the chief executive officer now directly owns 334,983 shares in the company, valued at $27,438,457.53. The disclosure for this sale can be found here. Insiders have sold a total of 125,331 shares of company stock worth $10,285,430 over the last three months. 1.75% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Acadian Asset Management LLC grew its holdings in BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of BioMarin Pharmaceutical by 466.7% during the 3rd quarter. Ancora Advisors LLC now owns 425 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Spire Wealth Management lifted its position in shares of BioMarin Pharmaceutical by 59.7% during the 4th quarter. Spire Wealth Management now owns 377 shares of the biotechnology company’s stock valued at $33,000 after acquiring an additional 141 shares during the period. Liberty Wealth Management LLC lifted its position in shares of BioMarin Pharmaceutical by 181.7% during the 3rd quarter. Liberty Wealth Management LLC now owns 431 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 278 shares during the period. Finally, CWM LLC lifted its position in shares of BioMarin Pharmaceutical by 435.2% during the 1st quarter. CWM LLC now owns 487 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 396 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical (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.

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