BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) announced its quarterly earnings data on Wednesday. The biotechnology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.04, RTT News reports. BioMarin Pharmaceutical had a net margin of 2.83% and a return on equity of 1.80%. During the same quarter last year, the firm earned $0.23 EPS. BioMarin Pharmaceutical updated its FY 2022 guidance to EPS.
BioMarin Pharmaceutical Price Performance
BMRN stock traded up $2.84 during mid-day trading on Friday, reaching $95.82. The company’s stock had a trading volume of 2,103,275 shares, compared to its average volume of 1,243,292. The stock has a market cap of $17.73 billion, a PE ratio of 368.55, a P/E/G ratio of 1.86 and a beta of 0.33. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. BioMarin Pharmaceutical has a fifty-two week low of $70.73 and a fifty-two week high of $96.50. The company’s 50 day moving average is $82.81 and its two-hundred day moving average is $82.21.
Insider Buying and Selling at BioMarin Pharmaceutical
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 7,398 shares of the stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $90.00, for a total value of $665,820.00. Following the completion of the sale, the executive vice president now owns 58,941 shares in the company, valued at approximately $5,304,690. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Brian Mueller sold 7,337 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the sale, the chief financial officer now owns 30,726 shares of the company’s stock, valued at approximately $2,749,977. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP George Eric Davis sold 7,398 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of $90.00, for a total transaction of $665,820.00. Following the completion of the sale, the executive vice president now directly owns 58,941 shares of the company’s stock, valued at approximately $5,304,690. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,043 shares of company stock worth $1,425,735. Insiders own 1.75% of the company’s stock.
Institutional Trading of BioMarin Pharmaceutical
Wall Street Analysts Forecast Growth
BMRN has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, July 12th. They issued an “overweight” rating and a $110.00 price target on the stock. Credit Suisse Group upped their price target on shares of BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a report on Monday, June 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. SVB Leerink upped their price target on shares of BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley upped their price objective on shares of BioMarin Pharmaceutical from $113.00 to $117.00 and gave the stock an “overweight” rating in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.40.
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.
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