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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $94.20.

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Evercore ISI reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Truist Financial lowered their target price on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $65.00 on Friday. The company has a 50 day simple moving average of $66.68 and a two-hundred day simple moving average of $76.87. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 0.65 and a beta of 0.29. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12 month low of $61.15 and a 12 month high of $99.25.

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

Insiders Place Their Bets

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Erste Asset Management GmbH purchased a new position in BioMarin Pharmaceutical in the third quarter valued at about $48,527,000. Principal Financial Group Inc. raised its holdings in BioMarin Pharmaceutical by 1,858.6% in 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 in the last quarter. Vestal Point Capital LP bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $28,116,000. Clearline Capital LP acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth $22,477,000. Finally, Rhumbline Advisers increased its position in shares of BioMarin Pharmaceutical by 122.1% in the 2nd quarter. Rhumbline Advisers now owns 551,553 shares of the biotechnology company’s stock worth $45,409,000 after purchasing an additional 303,207 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.