BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Reaffirmed by Cantor Fitzgerald

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating restated by analysts at Cantor Fitzgerald in a research note issued on Thursday, Benzinga reports. They currently have a $110.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 35.95% from the company’s current price.

A number of other analysts have also recently weighed in on BMRN. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Robert W. Baird lowered their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 30th. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Piper Sandler lowered their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, February 23rd. Finally, Wells Fargo & Company upped their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $80.91 on Thursday. The stock has a market cap of $15.27 billion, a PE ratio of 75.62, a P/E/G ratio of 1.68 and a beta of 0.31. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a 1 year low of $76.02 and a 1 year high of $99.56. The stock’s 50 day simple moving average is $87.58 and its 200-day simple moving average is $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analysts’ expectations of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. BioMarin Pharmaceutical’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.11 earnings per share. Sell-side analysts forecast that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insider Activity

In other news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jean Jacques Bienaime sold 15,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares in the company, valued at approximately $37,042,464.56. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock valued at $9,062,967 over the last 90 days. 1.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 18,050,062 shares of the biotechnology company’s stock valued at $1,740,387,000 after buying an additional 348,852 shares during the period. Capital Research Global Investors increased its holdings in shares of BioMarin Pharmaceutical by 79.0% in the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after acquiring an additional 4,756,671 shares in the last quarter. Barclays PLC increased its holdings in shares of BioMarin Pharmaceutical by 31.6% in the third quarter. Barclays PLC now owns 5,573,157 shares of the biotechnology company’s stock worth $493,111,000 after acquiring an additional 1,336,886 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of BioMarin Pharmaceutical by 5.6% in the third quarter. Ameriprise Financial Inc. now owns 5,163,949 shares of the biotechnology company’s stock worth $456,906,000 after acquiring an additional 275,436 shares in the last quarter. Finally, Avoro Capital Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 11.7% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after acquiring an additional 450,000 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.