Wells Fargo & Company Raises BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $110.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price upped by Wells Fargo & Company from $100.00 to $110.00 in a research report released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of a number of other reports. Royal Bank of Canada reissued a sector perform rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group reissued a hold rating and set a $91.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Piper Sandler lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an overweight rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Finally, Robert W. Baird reduced their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a research note on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and an average price target of $107.50.

BioMarin Pharmaceutical Stock Down 1.5 %

BioMarin Pharmaceutical stock opened at $80.91 on Thursday. BioMarin Pharmaceutical has a 1-year low of $76.02 and a 1-year high of $99.56. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.31. The firm’s fifty day moving average price is $87.58 and its two-hundred day moving average price is $89.14. 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 (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The firm had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. During the same period last year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that BioMarin Pharmaceutical will post 1.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now owns 474,994 shares of the company’s stock, valued at approximately $43,347,952.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now owns 474,994 shares of the company’s stock, valued at $43,347,952.44. The disclosure for this sale can be found here. Insiders sold a total of 103,229 shares of company stock valued at $9,062,967 in the last quarter. Corporate insiders own 1.84% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently made changes to their positions in BMRN. KB Financial Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Castleview Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $35,000. Lindbrook Capital LLC lifted its holdings in shares of BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. 98.71% of the stock is currently owned by institutional investors.

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.