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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $94.00.

Several analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Piper Sandler increased their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in shares of BioMarin Pharmaceutical by 2.7% in the 4th quarter. California State Teachers Retirement System now owns 273,761 shares of the biotechnology company’s stock worth $17,994,000 after purchasing an additional 7,094 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in BioMarin Pharmaceutical by 295.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,201 shares of the biotechnology company’s stock worth $1,525,000 after buying an additional 17,340 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at $4,367,000. PKO Investment Management Joint Stock Co bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $789,000. Finally, Siemens Fonds Invest GmbH acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth about $821,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $71.44 on Friday. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The business has a 50 day moving average of $67.46 and a 200-day moving average of $67.63. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The business 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%. On average, equities research analysts expect that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

BioMarin Pharmaceutical Company Profile

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.