BioMarin Pharmaceutical (NASDAQ:BMRN) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Thursday, Benzinga reports. The firm currently has a $110.00 price target on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reissued a hold rating and issued a $91.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Royal Bank of Canada reissued a sector perform rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Wells Fargo & Company increased their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an overweight rating in a research report on Thursday. Robert W. Baird decreased their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a research report on Tuesday, January 30th. Finally, Piper Sandler decreased their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating for the company in a research report on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $107.89.

BioMarin Pharmaceutical Trading Down 9.9 %

BMRN opened at $82.17 on Thursday. The business has a 50 day simple moving average of $87.74 and a two-hundred day simple moving average of $89.18. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 76.80, a PEG ratio of 1.68 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. BioMarin Pharmaceutical has a one year low of $76.02 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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 business had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. BioMarin Pharmaceutical’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 EPS. Analysts predict that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $87.07, for a total transaction of $348,280.00. Following the sale, the executive vice president now directly owns 94,047 shares of the company’s stock, valued at $8,188,672.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares in the company, valued at $43,347,952.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 103,229 shares of company stock valued at $9,062,967 over the last ninety days. 1.84% of the stock is currently owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently modified their holdings of the company. KB Financial Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 259.8% in the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC bought a new position in BioMarin Pharmaceutical in the third quarter worth approximately $35,000. Benjamin F. Edwards & Company Inc. raised its stake in BioMarin Pharmaceutical by 135.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after buying an additional 249 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.