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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $94.20.

Several analysts recently commented on the stock. Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Finally, Barclays decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th.

Insider Buying and Selling at BioMarin Pharmaceutical

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

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 377.5% in the second quarter. Acadian Asset Management LLC now owns 12,113 shares of the biotechnology company’s stock valued at $994,000 after purchasing an additional 9,576 shares in the last quarter. Texas Permanent School Fund Corp acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $2,194,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $31,000. Federated Hermes Inc. acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $1,660,000. Finally, WINTON GROUP Ltd acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $509,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Up 0.5 %

NASDAQ:BMRN opened at $61.53 on Tuesday. The firm has a market capitalization of $11.73 billion, a P/E ratio of 36.84, a PEG ratio of 0.59 and a beta of 0.29. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The company’s fifty day moving average price is $65.49 and its 200-day moving average price is $74.33. 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). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, equities research analysts anticipate that BioMarin Pharmaceutical will post 2.5 EPS for the current year.

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.