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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given an average rating of “Moderate Buy” by the twenty-three brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $94.20.

Several analysts recently commented on the stock. Evercore ISI decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America dropped their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Scotiabank lowered their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Erste Asset Management GmbH acquired a new stake in BioMarin Pharmaceutical during the third quarter worth about $48,527,000. Principal Financial Group Inc. grew its holdings in shares of BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock worth $53,470,000 after purchasing an additional 616,301 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $28,116,000. Assenagon Asset Management S.A. raised its stake in shares of BioMarin Pharmaceutical by 11,107.4% in the second quarter. Assenagon Asset Management S.A. now owns 352,474 shares of the biotechnology company’s stock valued at $29,019,000 after purchasing an additional 349,329 shares in the last quarter. Finally, Clearline Capital LP bought a new position in BioMarin Pharmaceutical in the third quarter worth $22,477,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

BMRN opened at $64.26 on Monday. The firm has a market capitalization of $12.25 billion, a P/E ratio of 38.48, a PEG ratio of 0.62 and a beta of 0.31. The stock has a fifty day moving average of $68.25 and a 200-day moving average of $78.42. 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 12-month low of $61.15 and a 12-month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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 business 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 company posted $0.26 earnings per share. The firm’s revenue was up 28.4% on a year-over-year basis. Equities analysts forecast that BioMarin Pharmaceutical will post 2.49 EPS 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.