BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Average Rating of “Moderate Buy” by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $93.45.

Several equities analysts have weighed in on BMRN shares. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush restated an “outperform” rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Citigroup decreased their price objective on shares of BioMarin Pharmaceutical from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This represents a 7.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders have sold 2,912 shares of company stock valued at $202,244. Insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of the company. Byrne Financial Freedom LLC increased its position in shares of BioMarin Pharmaceutical by 4.4% in the 1st quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 161 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp increased its position in shares of BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 165 shares during the last quarter. Freedom Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 184 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in shares of BioMarin Pharmaceutical by 0.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company’s stock valued at $1,592,000 after buying an additional 197 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $59.27 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 0.61 and a beta of 0.27. The company’s 50-day moving average is $63.63 and its two-hundred day moving average is $65.04. BioMarin Pharmaceutical has a 1-year low of $52.93 and a 1-year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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 company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

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.