BioMarin Pharmaceutical (NASDAQ:BMRN) Shares Down 3% – What’s Next?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was down 3% on Wednesday . The company traded as low as $61.78 and last traded at $61.88. Approximately 2,040,794 shares were traded during trading, an increase of 58% from the average daily volume of 1,290,505 shares. The stock had previously closed at $63.81.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wedbush raised BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. William Blair lowered shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Trading Up 0.5 %

The stock has a market cap of $11.73 billion, a PE ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29. The company’s fifty day moving average is $65.49 and its 200-day moving average is $74.39. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share 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 company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same quarter in the previous year, the business posted $0.26 EPS. The business’s quarterly revenue was up 28.4% on a year-over-year basis. On average, analysts predict that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical 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 transaction, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky grew its stake in BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after acquiring an additional 28,837 shares during the period. E Fund Management Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 167.4% in the 2nd quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock worth $1,110,000 after acquiring an additional 8,438 shares in the last quarter. Wedmont Private Capital acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $430,000. Finally, EULAV Asset Management lifted its holdings in BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.