BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus recommendation of “Moderate Buy” by the twenty-one brokerages that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $94.16.

A number of research analysts have weighed in on BMRN shares. Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Citigroup reduced their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Raymond James restated an “outperform” rating and issued a $79.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th.

BioMarin Pharmaceutical Price Performance

BMRN opened at $66.01 on Thursday. The company’s 50 day simple moving average is $74.65 and its 200 day simple moving average is $80.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 4.27. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The stock has a market capitalization of $12.53 billion, a PE ratio of 39.53, a P/E/G ratio of 0.67 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. As a group, sell-side analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its holdings in BioMarin Pharmaceutical by 11.6% in the 1st quarter. Principal Financial Group Inc. now owns 33,159 shares of the biotechnology company’s stock valued at $2,896,000 after acquiring an additional 3,453 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of BioMarin Pharmaceutical by 6.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 7,290 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 454 shares during the period. Van ECK Associates Corp increased its holdings in shares of BioMarin Pharmaceutical by 6.5% in the 1st quarter. Van ECK Associates Corp now owns 142,837 shares of the biotechnology company’s stock valued at $12,475,000 after purchasing an additional 8,741 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 110.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 108,081 shares of the biotechnology company’s stock valued at $9,834,000 after purchasing an additional 56,784 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of BioMarin Pharmaceutical by 17.9% in the 1st quarter. Nordea Investment Management AB now owns 13,675 shares of the biotechnology company’s stock valued at $1,207,000 after purchasing an additional 2,081 shares during the period. 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.