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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are currently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $94.20.

A number of equities research analysts recently issued reports on BMRN shares. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their price target on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th.

BioMarin Pharmaceutical Trading Up 1.3 %

Shares of BMRN opened at $64.26 on Monday. BioMarin Pharmaceutical has a fifty-two week low of $61.15 and a fifty-two week high of $99.56. The company has a market capitalization of $12.25 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 0.62 and a beta of 0.31. The stock has a fifty day moving average of $68.25 and a two-hundred day moving average of $78.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The business’s revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, analysts forecast that BioMarin Pharmaceutical will post 2.49 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $48,527,000. Principal Financial Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after acquiring an additional 616,301 shares during the period. Vestal Point Capital LP acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $28,116,000. Assenagon Asset Management S.A. raised its holdings in BioMarin Pharmaceutical by 11,107.4% during the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock worth $29,019,000 after purchasing an additional 349,329 shares in the last quarter. Finally, Clearline Capital LP acquired a new stake in BioMarin Pharmaceutical in the third quarter worth approximately $22,477,000. 98.71% of the stock is 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.