BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus recommendation of “Buy” by the twenty-five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $117.95.
BMRN has been the topic of several research reports. Morgan Stanley cut shares of BioMarin Pharmaceutical from an “overweight” rating to an “equal weight” rating and set a $125.00 target price on the stock. in a report on Wednesday. Credit Suisse Group restated a “buy” rating and issued a $128.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, June 1st. BidaskClub downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 11th. Wedbush reaffirmed a “buy” rating and set a $145.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, June 18th. Finally, Cfra reissued a “buy” rating and issued a $115.00 price objective on shares of BioMarin Pharmaceutical in a research note on Sunday, May 10th.
In other news, insider Henry J. Fuchs sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $95.88, for a total value of $1,917,600.00. Following the completion of the transaction, the insider now owns 109,014 shares of the company’s stock, valued at $10,452,262.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Henry J. Fuchs sold 17,213 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $90.00, for a total transaction of $1,549,170.00. Following the completion of the sale, the insider now directly owns 122,656 shares in the company, valued at approximately $11,039,040. The disclosure for this sale can be found here. Insiders have sold 122,577 shares of company stock valued at $12,051,538 over the last 90 days. 2.15% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $25,000. Orion Portfolio Solutions LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $26,000. Signaturefd LLC increased its holdings in shares of BioMarin Pharmaceutical by 43.1% during the 1st quarter. Signaturefd LLC now owns 382 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 115 shares during the last quarter. Shine Investment Advisory Services Inc. grew its holdings in BioMarin Pharmaceutical by 199.5% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 602 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 401 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $83,000. 96.46% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:BMRN opened at $128.68 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.72 and a current ratio of 2.58. The firm has a market capitalization of $23.28 billion, a PE ratio of 211.03 and a beta of 1.09. The firm has a fifty day moving average of $112.10 and a 200 day moving average of $93.50. BioMarin Pharmaceutical has a 52-week low of $62.88 and a 52-week high of $129.89.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.32. BioMarin Pharmaceutical had a net margin of 6.31% and a return on equity of 3.62%. The business had revenue of $502.07 million during the quarter, compared to the consensus estimate of $468.77 million. During the same period in the previous year, the firm posted ($0.32) earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, sell-side analysts forecast that BioMarin Pharmaceutical will post 0.43 EPS for the current fiscal year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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