BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $85.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price hoisted by Scotiabank from $83.00 to $85.00 in a report released on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the biotechnology company’s stock. Scotiabank’s price objective suggests a potential upside of 5.05% from the stock’s previous close.

A number of other research firms have also weighed in on BMRN. Piper Sandler decreased their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd. Wells Fargo & Company boosted their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

BioMarin Pharmaceutical Trading Down 1.5 %

Shares of BioMarin Pharmaceutical stock opened at $80.91 on Thursday. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The stock has a market cap of $15.27 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.68 and a beta of 0.31. BioMarin Pharmaceutical has a 12-month low of $76.02 and a 12-month high of $99.56. The business’s 50 day moving average is $87.58 and its 200-day moving average is $89.13.

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

Insider Transactions at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on 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 directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on 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 directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,229 shares of company stock valued at $9,062,967. 1.84% of the stock is owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the business. KB Financial Partners LLC lifted its position 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 buying an additional 118 shares during the last quarter. Lindbrook Capital LLC raised its position in BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC bought a new position in BioMarin Pharmaceutical in the third quarter valued at about $35,000. Benjamin F. Edwards & Company Inc. raised its position in BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $43,000. 98.71% of the stock is currently owned by 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.