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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $107.61.

A number of research analysts have recently issued reports on BMRN shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Robert W. Baird reduced their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler reduced their price objective on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total value of $90,350.00. Following the completion of the sale, the director now directly owns 562,203 shares in the company, valued at $50,795,041.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 35,341 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at $18,068,126.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total transaction of $90,350.00. Following the transaction, the director now directly owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock worth $9,062,967 over the last three months. Company insiders own 1.84% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $31,000. KB Financial Partners LLC increased its stake in shares of BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. MayTech Global Investments LLC bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $36,000. Dark Forest Capital Management LP bought a new position in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $37,000. Finally, Lindbrook Capital LLC increased its stake in shares of BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.4 %

BMRN opened at $90.07 on Friday. The stock has a market cap of $17.00 billion, a PE ratio of 102.35, a P/E/G ratio of 1.68 and a beta of 0.31. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a 52 week low of $76.02 and a 52 week high of $99.56. The business’s fifty day simple moving average is $87.61 and its 200 day simple moving average is $89.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, research analysts expect that BioMarin Pharmaceutical will post 1.85 earnings per share for the current fiscal 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.