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

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are covering the company, MarketBeat.com reports. Seven equities research 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 1 year price objective among brokers that have issued ratings on the stock in the last year is $94.20.

A number of analysts have recently commented on the company. Citigroup dropped their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Canaccord Genuity Group dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Evercore ISI reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus dropped their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, UBS Group raised their price objective on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th.

BioMarin Pharmaceutical Stock Up 0.5 %

NASDAQ:BMRN opened at $65.00 on Friday. The firm has a market capitalization of $12.39 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. BioMarin Pharmaceutical has a 52 week low of $61.15 and a 52 week high of $99.25. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $66.68 and a 200-day moving average of $76.87.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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 net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s revenue was up 28.4% on a year-over-year basis. Analysts predict that BioMarin Pharmaceutical will post 2.49 EPS for the current year.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMRN. Synovus Financial Corp boosted its holdings in BioMarin Pharmaceutical by 25.7% during the third quarter. Synovus Financial Corp now owns 30,253 shares of the biotechnology company’s stock valued at $2,127,000 after acquiring an additional 6,191 shares during the period. Tidal Investments LLC boosted its position in shares of BioMarin Pharmaceutical by 150.4% in the third quarter. Tidal Investments LLC now owns 30,467 shares of the biotechnology company’s stock valued at $2,142,000 after acquiring an additional 18,300 shares during the period. Virtu Financial LLC acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter worth $809,000. TD Private Client Wealth LLC increased its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in BioMarin Pharmaceutical by 31.3% in the 3rd quarter. Toronto Dominion Bank now owns 23,942 shares of the biotechnology company’s stock valued at $1,683,000 after purchasing an additional 5,711 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.