Weekly Research Analysts’ Ratings Changes for BioMarin Pharmaceutical (BMRN)

Several analysts have recently updated their ratings and price targets for BioMarin Pharmaceutical (NASDAQ: BMRN):

  • 1/24/2023 – BioMarin Pharmaceutical had its price target raised by analysts at Morgan Stanley from $113.00 to $132.00. They now have an “overweight” rating on the stock.
  • 1/18/2023 – BioMarin Pharmaceutical is now covered by analysts at Canaccord Genuity Group Inc.. They set a “hold” rating and a $119.00 price target on the stock.
  • 1/11/2023 – BioMarin Pharmaceutical had its price target raised by analysts at Wedbush from $74.00 to $83.00. They now have a “neutral” rating on the stock.
  • 1/9/2023 – BioMarin Pharmaceutical had its price target raised by analysts at Guggenheim from $120.00 to $125.00.
  • 1/4/2023 – BioMarin Pharmaceutical had its price target raised by analysts at Bank of America Co. to $200.00.
  • 12/2/2022 – BioMarin Pharmaceutical had its price target raised by analysts at Evercore ISI to $130.00.
  • 11/29/2022 – BioMarin Pharmaceutical had its price target raised by analysts at Jefferies Financial Group Inc. from $100.00 to $120.00. They now have a “buy” rating on the stock.

BioMarin Pharmaceutical Stock Up 1.0 %

BioMarin Pharmaceutical stock opened at $115.00 on Wednesday. The stock has a market cap of $21.33 billion, a PE ratio of 273.81 and a beta of 0.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15. BioMarin Pharmaceutical Inc. has a fifty-two week low of $70.73 and a fifty-two week high of $115.47. The firm’s 50-day simple moving average is $103.98 and its 200 day simple moving average is $93.89.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $505.30 million for the quarter, compared to analyst estimates of $516.03 million. BioMarin Pharmaceutical had a net margin of 4.18% and a return on equity of 2.50%. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Research analysts predict that BioMarin Pharmaceutical Inc. will post 0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total value of $106,890.00. Following the sale, the chief executive officer now owns 320,424 shares of the company’s stock, valued at $34,250,121.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jeffrey Robert Ajer sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $86.12, for a total value of $258,360.00. Following the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at $3,538,498.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total transaction of $106,890.00. Following the completion of the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at approximately $34,250,121.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,380 shares of company stock valued at $4,706,718. Company insiders own 1.75% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $25,000. Quadrant Capital Group LLC raised its position in shares of BioMarin Pharmaceutical by 188.6% in the second quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 232 shares during the period. Acadian Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 395.4% in the first quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 344 shares during the period. Capital Wealth Alliance LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $34,000. Finally, Baystate Wealth Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $41,000. Institutional investors own 96.26% of the company’s stock.

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.

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