Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) PT at $106.11

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRNGet Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $106.11.

BMRN has been the subject of several recent research reports. Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. Citigroup reduced their price objective on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Baird R W downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Evercore ISI started coverage on BioMarin Pharmaceutical in a research report on Tuesday, May 14th. They set an “outperform” rating and a $113.00 price target for the company. Finally, Morgan Stanley decreased their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, April 26th.

View Our Latest Stock Report on BioMarin Pharmaceutical

Insiders Place Their Bets

In other news, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,184,258.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Brian Mueller sold 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at $5,425,635.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 40,850 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at $4,184,258.07. The disclosure for this sale can be found here. In the last three months, insiders sold 114,588 shares of company stock worth $9,413,633. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds have recently bought and sold shares of BMRN. KB Financial Partners LLC boosted its holdings in shares of BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares during the last quarter. Lindbrook Capital LLC lifted its position in BioMarin Pharmaceutical by 259.8% during the fourth quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after buying an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in BioMarin Pharmaceutical by 135.3% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after buying an additional 249 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical in the 4th quarter valued at $43,000. Finally, First Horizon Advisors Inc. increased its stake in shares of BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Down 0.2 %

BioMarin Pharmaceutical stock opened at $80.69 on Monday. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The company has a market cap of $15.32 billion, a PE ratio of 75.41, a PEG ratio of 1.13 and a beta of 0.31. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. The business’s 50-day simple moving average is $82.85 and its two-hundred day simple moving average is $88.09.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The firm had revenue of $648.83 million for the quarter, compared to analyst estimates of $649.75 million. Equities analysts anticipate that BioMarin Pharmaceutical will post 1.99 EPS for the current year.

About BioMarin Pharmaceutical

(Get Free Report

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.

Further Reading

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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