BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $107.50.

A number of analysts recently commented on the company. Morgan Stanley dropped their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Piper Sandler lowered their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Citigroup lowered their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Scotiabank boosted their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 25th.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $81.83 on Thursday. The firm has a market cap of $15.54 billion, a PE ratio of 76.48, a price-to-earnings-growth ratio of 1.30 and a beta of 0.34. BioMarin Pharmaceutical has a fifty-two week low of $76.02 and a fifty-two week high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The business has a 50 day moving average price of $86.56 and a 200-day moving average price of $89.02.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts predict that BioMarin Pharmaceutical will post 1.98 earnings per share for the current year.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Jeffrey Robert Ajer sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $87.07, for a total transaction of $348,280.00. Following the sale, the executive vice president now directly owns 94,047 shares of the company’s stock, valued at approximately $8,188,672.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred 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 directly owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,079 shares of company stock worth $9,220,236. 1.85% of the stock is owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of the company. KB Financial Partners LLC raised its holdings in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares during the period. Lindbrook Capital LLC grew its position in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares during the last quarter. Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical in the 4th quarter valued at $43,000. Finally, First Horizon Advisors Inc. grew its position in BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock valued at $56,000 after acquiring an additional 144 shares during the last quarter. 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.