BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 1-Year Low - Time to Sell?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The stock traded as low as $60.10 and last traded at $60.58, with a volume of 2199721 shares traded. The stock had previously closed at $67.48.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BMRN shares. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group boosted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Up 6.3 %

The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $67.44 and a two-hundred day moving average price of $66.80. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 0.61 and a beta of 0.30.

Remove Ads

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 analysts' consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during 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 expect that BioMarin Pharmaceutical Inc. will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total transaction of $92,618.40. Following the transaction, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in BMRN. Norges Bank bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at $234,645,000. Capital Research Global Investors grew 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 during the last quarter. Soleus Capital Management L.P. bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $65,822,000. Dodge & Cox raised its stake in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after acquiring an additional 847,917 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in BioMarin Pharmaceutical by 114.5% in the fourth quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after acquiring an additional 685,099 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.