BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.20 Average Price Target from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $94.20.

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Truist Financial reduced their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Citigroup cut their price target 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. Finally, Raymond James restated an "outperform" rating and issued a $79.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th.

Insider Activity

In other 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.85% of the company's stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $25,000. BOKF NA purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $31,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical in the third quarter worth $28,000. TD Private Client Wealth LLC raised its stake 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 valued at $36,000 after purchasing an additional 186 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in BioMarin Pharmaceutical during the second quarter valued at $47,000. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Stock Up 1.0 %

BioMarin Pharmaceutical stock traded up $0.66 on Friday, hitting $65.66. 3,974,318 shares of the stock traded hands, compared to its average volume of 1,808,870. The business's fifty day simple moving average is $66.58 and its 200 day simple moving average is $76.80. The firm has a market cap of $12.51 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 1 year low of $61.15 and a 1 year high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) 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 analysts' expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company's revenue was up 28.4% on a year-over-year basis. During the same period last year, the business earned $0.26 earnings per share. As a group, sell-side analysts forecast that BioMarin Pharmaceutical will post 2.49 earnings per share for the current year.

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.