Wolfe Research Begins Coverage on BioMarin Pharmaceutical (NASDAQ:BMRN)

Wolfe Research started coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report released on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $95.00 target price on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on BMRN. JPMorgan Chase & Co. reduced their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Cantor Fitzgerald decreased their target price on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen lowered their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Down 2.3 %

Shares of NASDAQ BMRN opened at $61.93 on Friday. The company has a market capitalization of $11.80 billion, a P/E ratio of 37.08, a P/E/G ratio of 0.63 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company has a 50 day simple moving average of $69.99 and a 200-day simple moving average of $78.96. BioMarin Pharmaceutical has a 1 year low of $61.40 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results 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). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the business earned $0.26 EPS. On average, equities research analysts predict that BioMarin Pharmaceutical will post 2.47 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s 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 transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the third quarter worth about $28,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $31,000. Quent Capital LLC lifted its position in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the period. Finally, TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third 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 period. 98.71% of the stock is owned by institutional investors and hedge funds.

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.