Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Target Price at $106.37

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $106.37.

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, April 25th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday. Robert W. Baird downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Finally, Canaccord Genuity Group decreased their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 26th.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $82.33 on Friday. 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 firm has a fifty day moving average price of $81.37 and a 200 day moving average price of $87.23. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 76.94, a P/E/G ratio of 1.17 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The firm had revenue of $648.83 million during the quarter, compared to analyst estimates of $649.75 million. As a group, sell-side analysts expect that BioMarin Pharmaceutical will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 40,850 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,184,258.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the sale, the chief accounting officer now owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. Insiders have sold a total of 89,986 shares of company stock worth $7,240,292 in the last three months. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors have recently modified their holdings of BMRN. HighTower Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 56.4% in the 3rd quarter. HighTower Advisors LLC now owns 7,697 shares of the biotechnology company’s stock valued at $681,000 after purchasing an additional 2,776 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 88.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 125,800 shares of the biotechnology company’s stock valued at $11,131,000 after purchasing an additional 59,095 shares during the last quarter. FMR LLC raised its position in shares of BioMarin Pharmaceutical by 30.4% in the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after purchasing an additional 166,219 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of BioMarin Pharmaceutical by 82.1% in the 3rd quarter. Acadian Asset Management LLC now owns 3,682 shares of the biotechnology company’s stock valued at $325,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Mariner LLC raised its position in shares of BioMarin Pharmaceutical by 9.3% in the 3rd quarter. Mariner LLC now owns 27,491 shares of the biotechnology company’s stock valued at $2,432,000 after purchasing an additional 2,336 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

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.