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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $94.20.

Several equities research analysts have commented on BMRN shares. Barclays dropped their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Robert W. Baird dropped their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th.

BioMarin Pharmaceutical Stock Down 0.5 %

BioMarin Pharmaceutical stock opened at $61.25 on Tuesday. The firm has a 50 day moving average price of $65.71 and a 200-day moving average price of $74.62. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a market capitalization of $11.67 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.59 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the prior year, the business earned $0.26 earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. As a group, equities analysts predict that BioMarin Pharmaceutical will post 2.5 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction dated 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 sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.85% of the stock is owned by insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of BMRN. UMB Bank n.a. boosted its stake in BioMarin Pharmaceutical by 260.1% in the fourth quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock worth $67,000 after buying an additional 736 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $317,000. Avanza Fonder AB purchased a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at $1,062,000. Assenagon Asset Management S.A. grew its holdings in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after purchasing an additional 502,695 shares during the last quarter. Finally, Wedmont Private Capital purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth $430,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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.