Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Price Target at $94.20

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $94.20.

BMRN has been the topic of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Piper Sandler lifted their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Bank of America lowered their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the second quarter worth about $31,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at about $28,000. TD Private Client Wealth LLC increased its position in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $65.66 on Friday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $66.58 and a 200 day simple moving average of $76.78. BioMarin Pharmaceutical has a one year low of $61.15 and a one year high of $99.25. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 0.65 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. Sell-side analysts expect that BioMarin Pharmaceutical will post 2.49 EPS for the current 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.