BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Consensus Price Target from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $94.20.

Several research firms have weighed in on BMRN. Scotiabank lowered their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Citigroup lowered their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, TD Cowen lowered their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th.

BioMarin Pharmaceutical Stock Up 0.9 %

BioMarin Pharmaceutical stock opened at $66.03 on Monday. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $67.72 and its 200 day moving average is $77.88. BioMarin Pharmaceutical has a 12-month low of $61.15 and a 12-month high of $99.56. The company has a market capitalization of $12.58 billion, a PE ratio of 39.54, a PEG ratio of 0.65 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the previous year, the company posted $0.26 EPS. The business’s quarterly revenue was up 28.4% on a year-over-year basis. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 2.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total value of $350,300.86. Following the sale, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently modified their holdings of BMRN. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. nVerses Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $28,000. BOKF NA purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $31,000. Quent Capital LLC raised its stake in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other 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.