BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Consensus PT from Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $94.20.

Several analysts recently issued reports on the company. Raymond James restated an “outperform” rating and issued a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. TD Cowen dropped their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Evercore ISI dropped their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $65.42 on Monday. BioMarin Pharmaceutical has a 52-week low of $61.15 and a 52-week high of $99.56. The stock has a market cap of $12.47 billion, a PE ratio of 39.17, a P/E/G ratio of 0.64 and a beta of 0.31. The firm has a 50-day moving average of $67.93 and a 200-day moving average of $78.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

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

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value 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 approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in BMRN. Synovus Financial Corp raised its position in shares of BioMarin Pharmaceutical by 25.7% during the third quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company’s stock worth $2,127,000 after acquiring an additional 6,191 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after acquiring an additional 18,300 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at about $809,000. TD Private Client Wealth LLC boosted its stake 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 valued at $36,000 after purchasing an additional 186 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of BioMarin Pharmaceutical by 31.3% during the third quarter. Toronto Dominion Bank now owns 23,942 shares of the biotechnology company’s stock valued at $1,683,000 after buying an additional 5,711 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

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.