BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average rating of “Buy” by the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $111.63.
A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research report on Thursday, December 26th. Nomura decreased their price target on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a research note on Thursday, October 24th. Citigroup reaffirmed a “buy” rating and set a $95.00 price target (down previously from $120.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Barclays raised shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $86.00 to $98.00 in a research note on Wednesday, November 27th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $111.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th.
Shares of NASDAQ:BMRN traded up $0.30 during midday trading on Thursday, reaching $89.17. 529,502 shares of the company were exchanged, compared to its average volume of 1,135,269. The company has a current ratio of 3.77, a quick ratio of 2.53 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $83.74 and its two-hundred day moving average is $77.36. BioMarin Pharmaceutical has a one year low of $62.88 and a one year high of $100.13. The stock has a market cap of $15.99 billion, a PE ratio of -270.20 and a beta of 1.32.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.25. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. During the same quarter in the prior year, the business earned ($0.07) earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that BioMarin Pharmaceutical will post 0.01 EPS for the current year.
In other news, CEO Jean Jacques Bienaime sold 5,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $69.55, for a total value of $347,750.00. Following the sale, the chief executive officer now owns 332,520 shares of the company’s stock, valued at $23,126,766. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP George Eric Davis sold 3,190 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $79.66, for a total transaction of $254,115.40. Following the completion of the sale, the executive vice president now directly owns 68,709 shares in the company, valued at approximately $5,473,358.94. The disclosure for this sale can be found here. In the last three months, insiders sold 29,940 shares of company stock worth $2,374,645. Insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. North Star Investment Management Corp. purchased a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $25,000. Doyle Wealth Management purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $26,000. Usca Ria LLC purchased a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 73.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after buying an additional 173 shares during the period. Finally, Allred Capital Management LLC purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth about $51,000. 95.51% of the stock is currently owned by institutional investors and hedge funds.
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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