Wedbush Weighs in on BioMarin Pharmaceutical Inc.’s FY2022 Earnings (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Investment analysts at Wedbush issued their FY2022 earnings estimates for BioMarin Pharmaceutical in a research note issued to investors on Tuesday. Wedbush analyst L. Moussatos forecasts that the biotechnology company will earn $4.80 per share for the year. Wedbush has a “Outperform” rating and a $110.00 price objective on the stock.

Several other research analysts have also commented on the stock. Stifel Nicolaus decreased their price target on shares of BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 27th. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Saturday, January 20th. BMO Capital Markets reaffirmed a “buy” rating and issued a $117.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, October 20th. JPMorgan Chase & Co. set a $130.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $124.00 price target (up from $114.00) on shares of BioMarin Pharmaceutical in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus price target of $111.60.

Shares of BioMarin Pharmaceutical (BMRN) traded down $1.83 during mid-day trading on Friday, reaching $80.33. 2,220,000 shares of the company’s stock traded hands, compared to its average volume of 1,350,000. The firm has a market cap of $14,110.00, a price-to-earnings ratio of -96.78 and a beta of 1.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 52 week low of $78.50 and a 52 week high of $100.51.

Several hedge funds have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. raised its position in shares of BioMarin Pharmaceutical by 7.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,138,342 shares of the biotechnology company’s stock worth $101,506,000 after buying an additional 79,591 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of BioMarin Pharmaceutical by 17.0% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after purchasing an additional 164,788 shares in the last quarter. TCW Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 20.1% in the 3rd quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock worth $99,862,000 after purchasing an additional 179,879 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of BioMarin Pharmaceutical by 49.8% in the 4th quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock worth $82,104,000 after purchasing an additional 305,900 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its holdings in shares of BioMarin Pharmaceutical by 9.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 828,666 shares of the biotechnology company’s stock worth $73,892,000 after purchasing an additional 72,120 shares in the last quarter. Institutional investors own 98.83% of the company’s stock.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $90.32, for a total transaction of $903,200.00. Following the sale, the chief executive officer now directly owns 235,894 shares in the company, valued at approximately $21,305,946.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Eric Davis sold 30,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the sale, the executive vice president now owns 112,942 shares in the company, valued at $10,239,321.72. The disclosure for this sale can be found here. Insiders have sold a total of 90,750 shares of company stock valued at $8,159,588 over the last three months. 1.85% of the stock is currently owned by company insiders.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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