Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Target Price at $94.00

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-four analysts that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $94.00.

BMRN has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 target price for the company in a report on Monday, February 24th. UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Bank of America boosted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 18th.

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BioMarin Pharmaceutical Trading Down 2.3 %

BMRN stock traded down $1.60 during trading on Friday, reaching $69.09. The company had a trading volume of 307,526 shares, compared to its average volume of 1,837,150. The business has a 50 day moving average of $67.64 and a 200 day moving average of $67.42. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a market cap of $13.18 billion, a P/E ratio of 31.42, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical has a 52 week low of $60.63 and a 52 week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results 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. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, sell-side analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company's stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 16,955 shares of the company's stock, valued at approximately $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.85% of the company's stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after purchasing an additional 93,531 shares in the last quarter. Dodge & Cox raised its stake in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after buying an additional 847,917 shares during the period. Capital Research Global Investors lifted its position in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $234,645,000. Finally, Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 3,288,778 shares of the biotechnology company's stock worth $215,784,000 after acquiring an additional 28,728 shares in the last quarter. 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.