BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.00 Average PT from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-three brokerages that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $93.14.

A number of analysts have issued reports on BMRN shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday. UBS Group lifted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Citigroup boosted their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Finally, Piper Sandler increased their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.56 during midday trading on Thursday, reaching $63.30. The stock had a trading volume of 750,685 shares, compared to its average volume of 1,866,959. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $66.40 and a 200-day simple moving average of $66.02. The firm has a market cap of $12.08 billion, a PE ratio of 28.77, a P/E/G ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical has a one year low of $52.93 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Activity

In related news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.85% of the stock is currently owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $234,645,000. Capital Research Global Investors lifted its stake in shares of BioMarin Pharmaceutical by 23.8% in the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock worth $853,944,000 after purchasing an additional 2,496,817 shares during the period. Soleus Capital Management L.P. purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $65,822,000. Dodge & Cox grew its holdings in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after purchasing an additional 847,917 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock valued at $84,371,000 after acquiring an additional 685,099 shares during the period. Hedge funds and other institutional investors 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.