BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Average PT from Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Moderate Buy” from the twenty-three brokerages that are currently covering the firm, MarketBeat.com reports. Seven equities 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 1-year target price among brokerages that have updated their coverage on the stock in the last year is $94.20.

A number of research analysts have commented on the stock. Scotiabank reduced their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Citigroup lowered their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. Finally, Robert W. Baird lowered their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA lifted its stake in BioMarin Pharmaceutical by 0.4% during the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after purchasing an additional 77,350 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 4.4% during the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Geode Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock worth $228,632,000 after buying an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in BioMarin Pharmaceutical by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock valued at $98,520,000 after buying an additional 55,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of BioMarin Pharmaceutical by 38.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares during the period. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $66.63 on Friday. The firm has a 50-day moving average of $66.50 and a two-hundred day moving average of $76.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The stock has a market cap of $12.70 billion, a P/E ratio of 39.90, a PEG ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical has a 1-year low of $61.15 and a 1-year high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $703.37 million. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, research analysts expect that BioMarin Pharmaceutical will post 2.49 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.