BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Increased to $110.00 by Analysts at Wells Fargo & Company

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price hoisted by Wells Fargo & Company from $100.00 to $110.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other brokerages also recently commented on BMRN. Cantor Fitzgerald reiterated an overweight rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Royal Bank of Canada reissued a sector perform rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating for the company in a research report on Friday, February 23rd. Canaccord Genuity Group reissued a hold rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Finally, Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a research report on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $107.89.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ:BMRN opened at $82.17 on Thursday. The company 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. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56. The firm’s 50-day moving average is $87.74 and its 200 day moving average is $89.18. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million for the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. Research analysts predict that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The disclosure for this sale can be found here. Insiders sold 103,229 shares of company stock valued at $9,062,967 over the last 90 days. Insiders own 1.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BMRN. KB Financial Partners LLC increased its stake in BioMarin Pharmaceutical by 51.3% during the 3rd 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 in the last quarter. Castleview Partners LLC acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter worth $35,000. Lindbrook Capital LLC increased its stake 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 worth $37,000 after acquiring an additional 278 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of 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 acquiring an additional 249 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $43,000. Institutional investors and hedge funds 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.