BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Reaffirmed by Wedbush

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a report released on Thursday, RTT News reports. They currently have a $78.00 price target on the biotechnology company’s stock, up from their previous price target of $71.00. Wedbush’s price objective indicates a potential downside of 11.52% from the company’s current price.

Several other research analysts also recently issued reports on BMRN. Guggenheim restated a “buy” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday. 500.com reaffirmed a “reiterates” rating on shares of BioMarin Pharmaceutical in a research note on Friday, June 30th. Morgan Stanley cut their target price on shares of BioMarin Pharmaceutical from $129.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, August 1st. Scotiabank began coverage on shares of BioMarin Pharmaceutical in a report on Thursday, July 27th. They issued a “sector perform” rating and a $95.00 target price on the stock. Finally, Robert W. Baird reiterated an “outperform” rating and set a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, June 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.40.

BioMarin Pharmaceutical Stock Up 0.5 %

BioMarin Pharmaceutical stock opened at $88.16 on Thursday. The firm has a market capitalization of $16.59 billion, a price-to-earnings ratio of 169.54 and a beta of 0.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 3.31 and a current ratio of 4.94. BioMarin Pharmaceutical has a fifty-two week low of $80.53 and a fifty-two week high of $117.77. The stock’s fifty day moving average is $89.40 and its two-hundred day moving average is $92.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, July 31st. The biotechnology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.10. BioMarin Pharmaceutical had a net margin of 4.47% and a return on equity of 4.03%. The firm had revenue of $595.28 million for the quarter, compared to analysts’ expectations of $591.46 million. Analysts predict that BioMarin Pharmaceutical will post 1.25 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 12,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $90.43, for a total value of $1,085,160.00. Following the completion of the sale, the insider now owns 176,187 shares in the company, valued at $15,932,590.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Henry J. Fuchs sold 12,000 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $90.43, for a total value of $1,085,160.00. Following the completion of the transaction, the insider now directly owns 176,187 shares in the company, valued at $15,932,590.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $88.10, for a total transaction of $352,400.00. Following the sale, the chief executive officer now directly owns 428,732 shares of the company’s stock, valued at $37,771,289.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,000 shares of company stock worth $2,871,180. 1.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Grey Fox Wealth Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $31,000. ICA Group Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $31,000. Acadian Asset Management LLC raised its holdings in BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 344 shares in the last quarter. Allworth Financial LP grew its holdings in BioMarin Pharmaceutical by 57.5% during the 1st quarter. Allworth Financial LP now owns 356 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 130 shares in the last quarter. Finally, MayTech Global Investments LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 92.78% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.