BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) shares were down 3% during trading on Wednesday . The company traded as low as $61.78 and last traded at $61.88. Approximately 2,040,794 shares traded hands during trading, an increase of 58% from the average daily volume of 1,290,505 shares. The stock had previously closed at $63.81.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. Wells Fargo & Company lowered their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 17th. Evercore ISI decreased their price target on BioMarin Pharmaceutical from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Truist Financial lowered their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their target price on BioMarin Pharmaceutical from $93.00 to $84.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus price target of $94.20.
Read Our Latest Report on BMRN
BioMarin Pharmaceutical Trading Down 3.5 %
The business has a 50-day moving average price of $65.80 and a 200-day moving average price of $74.72. The firm has a market capitalization of $11.74 billion, a P/E ratio of 36.87, a PEG ratio of 0.65 and a beta of 0.29. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). The company 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 company's quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. Analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.49 earnings per share for the current year.
Insider Buying and Selling
In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. This represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by insiders.
Institutional Trading of BioMarin Pharmaceutical
Several hedge funds and other institutional investors have recently modified their holdings of BMRN. Tokio Marine Asset Management Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company's stock valued at $1,483,000 after purchasing an additional 173 shares during the period. Advisors Asset Management Inc. increased its stake in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company's stock worth $805,000 after acquiring an additional 180 shares during the period. TD Private Client Wealth LLC increased its stake in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 186 shares during the period. First Hawaiian Bank raised its holdings in BioMarin Pharmaceutical by 1.4% in the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock valued at $966,000 after acquiring an additional 200 shares in the last quarter. Finally, Voisard Asset Management Group Inc. lifted its position in shares of BioMarin Pharmaceutical by 17.8% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company's stock valued at $95,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.
About BioMarin Pharmaceutical
(
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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