BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.00 Average Target Price from Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average rating of “Moderate Buy” from the twenty-four analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $94.00.

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, StockNews.com lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Insider Activity

In other news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $317,000. Assenagon Asset Management S.A. raised its holdings in 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 buying an additional 502,695 shares during the period. Wedmont Private Capital purchased a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $430,000. Swedbank AB boosted its stake in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after buying an additional 43,593 shares during the period. Finally, Tidal Investments LLC boosted its stake in BioMarin Pharmaceutical by 150.4% during the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock worth $2,142,000 after buying an additional 18,300 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 1.2 %

Shares of BioMarin Pharmaceutical stock opened at $67.48 on Friday. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $67.98 and its 200 day moving average is $67.31. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. Research analysts anticipate that BioMarin Pharmaceutical will post 3.15 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.