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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $107.50.

A number of brokerages have commented on BMRN. Wells Fargo & Company increased their price objective on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group reduced their price target on BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Citigroup reduced their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Morgan Stanley dropped their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th.

Insider Transactions at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total value of $90,350.00. Following the completion of the transaction, the director now owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total transaction of $90,350.00. Following the completion of the sale, the director now owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total value of $348,280.00. Following the sale, the executive vice president now directly owns 94,047 shares of the company’s stock, valued at approximately $8,188,672.29. The disclosure for this sale can be found here. Insiders have sold a total of 105,079 shares of company stock worth $9,220,236 in the last 90 days. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Allspring Global Investments Holdings LLC increased its stake in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after acquiring an additional 59,760 shares during the period. EFG Asset Management North America Corp. grew its holdings in shares of BioMarin Pharmaceutical by 44.9% during the 3rd quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock valued at $5,957,000 after purchasing an additional 20,874 shares during the last quarter. International Assets Investment Management LLC acquired a new position in BioMarin Pharmaceutical during the 4th quarter worth approximately $3,598,000. FMR LLC lifted its stake in BioMarin Pharmaceutical by 30.4% in the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after purchasing an additional 166,219 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after buying an additional 544 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.9 %

BMRN stock opened at $81.83 on Thursday. The business has a fifty day moving average price of $86.56 and a 200 day moving average price of $89.02. BioMarin Pharmaceutical has a fifty-two week low of $76.02 and a fifty-two week high of $99.56. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 76.48, a P/E/G ratio of 1.30 and a beta of 0.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. Analysts expect that BioMarin Pharmaceutical will post 1.98 EPS for the current fiscal year.

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.