BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $106.37.

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Canaccord Genuity Group lowered their target price on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Morgan Stanley lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, April 26th.

Insider Activity

In other news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the transaction, the executive vice president now owns 56,157 shares in the company, valued at $4,773,906.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the transaction, the chief financial officer now owns 72,159 shares in the company, valued at $5,425,635.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the transaction, the executive vice president now owns 56,157 shares in the company, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Insiders have sold a total of 89,986 shares of company stock worth $7,240,292 over the last 90 days. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock valued at $1,582,348,000 after acquiring an additional 67,046 shares during the period. Capital Research Global Investors lifted its stake in BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the period. Ameriprise Financial Inc. lifted its stake in BioMarin Pharmaceutical by 5.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock valued at $456,906,000 after acquiring an additional 275,436 shares during the period. Avoro Capital Advisors LLC lifted its stake in BioMarin Pharmaceutical by 1.5% during the 1st quarter. Avoro Capital Advisors LLC now owns 4,365,000 shares of the biotechnology company’s stock valued at $381,239,000 after acquiring an additional 65,000 shares during the period. Finally, Norges Bank acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $324,098,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Trading Down 1.5 %

Shares of BMRN opened at $80.98 on Friday. The company’s fifty day moving average is $80.82 and its 200 day moving average is $86.98. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The stock has a market capitalization of $15.38 billion, a PE ratio of 75.68, a P/E/G ratio of 1.17 and a beta of 0.32. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. Sell-side analysts expect that BioMarin Pharmaceutical will post 1.99 earnings per share for the current fiscal year.

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.