BioMarin Pharmaceutical (NASDAQ:BMRN) Trading Down 1.8% – What’s Next?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s stock price dropped 1.8% during mid-day trading on Friday . The stock traded as low as $68.42 and last traded at $69.36. Approximately 249,609 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 1,539,472 shares. The stock had previously closed at $70.60.

Analyst Upgrades and Downgrades

BMRN has been the subject of a number of analyst reports. Wolfe Research assumed 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. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Performance

The company has a market cap of $13.31 billion, a PE ratio of 31.65, a PEG ratio of 0.61 and a beta of 0.33. The stock has a 50 day simple moving average of $66.16 and a two-hundred day simple moving average of $69.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp increased its holdings in BioMarin Pharmaceutical by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 165 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after acquiring an additional 180 shares in the last quarter. Finally, Freedom Investment Management Inc. increased its stake in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock valued at $330,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.