BioMarin Pharmaceutical (NASDAQ:BMRN) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) in a report released on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $95.00 price objective on the biotechnology company's stock.

BMRN has been the subject of several other reports. Bank of America decreased their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $80.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Sanford C. Bernstein reduced their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, September 17th. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Raymond James reissued an "outperform" rating and issued a $79.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $94.20.

BioMarin Pharmaceutical Stock Down 3.3 %

NASDAQ BMRN traded down $2.18 during trading on Friday, reaching $63.42. 1,687,095 shares of the company's stock were exchanged, compared to its average volume of 1,830,489. The stock has a market cap of $12.09 billion, a P/E ratio of 38.85, a price-to-earnings-growth ratio of 0.66 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a 50 day moving average price of $70.85 and a two-hundred day moving average price of $79.28. BioMarin Pharmaceutical has a 1 year low of $63.22 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business's revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. On average, equities research analysts anticipate that BioMarin Pharmaceutical will post 2.47 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction on Tuesday, November 12th. The shares were 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 approximately $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company's stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter valued at about $25,000. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical during the third quarter worth about $28,000. BOKF NA bought a new position in BioMarin Pharmaceutical during the second quarter worth about $31,000. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new position in BioMarin Pharmaceutical during the second quarter worth about $47,000. 98.71% of the stock is owned by 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.