Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $60.65 and last traded at $61.22, with a volume of 118180 shares trading hands. The stock had previously closed at $61.58.
Wall Street Analyst Weigh In
A number of research firms have weighed in on BMRN. UBS Group raised 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. Evercore ISI lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Wedbush upgraded BioMarin Pharmaceutical to a "strong-buy" rating in a research note on Monday, November 4th. Canaccord Genuity Group decreased their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Seven 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. According to data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average price target of $94.20.
Get Our Latest Report on BMRN
BioMarin Pharmaceutical Stock Up 0.5 %
The stock's 50-day moving average price is $65.71 and its two-hundred day moving average price is $74.62. 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 market capitalization of $11.73 billion, a P/E ratio of 36.84, a P/E/G ratio of 0.59 and a beta of 0.29.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS 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 firm had revenue of $746.00 million during the quarter, compared to analysts' expectations of $703.37 million. During the same quarter in the previous year, the company posted $0.26 EPS. BioMarin Pharmaceutical's revenue for the quarter was up 28.4% on a year-over-year basis. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, EVP Charles Greg Guyer sold 5,278 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 68,909 shares in the company, valued at approximately $4,573,490.33. This represents a 7.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.85% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of BMRN. Federated Hermes Inc. purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $1,660,000. Dimensional Fund Advisors LP boosted its stake in BioMarin Pharmaceutical by 38.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company's stock worth $85,178,000 after purchasing an additional 289,953 shares during the period. Mutual of America Capital Management LLC purchased a new position in BioMarin Pharmaceutical during the 2nd quarter valued at about $8,950,000. E Fund Management Co. Ltd. increased its position in shares of BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company's stock valued at $1,110,000 after buying an additional 8,438 shares during the period. Finally, Meiji Yasuda Life Insurance Co lifted its holdings in shares of BioMarin Pharmaceutical by 57.6% in the second quarter. Meiji Yasuda Life Insurance Co now owns 10,942 shares of the biotechnology company's stock worth $901,000 after buying an additional 4,000 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
(
Get Free Report)
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.
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