Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) rose 2.4% on Wednesday . The stock traded as high as $69.62 and last traded at $69.53. Approximately 192,084 shares were traded during trading, a decline of 77% from the average daily volume of 837,842 shares. The stock had previously closed at $67.90.
Analyst Ratings Changes
A number of equities analysts have weighed in on BMRN shares. Truist Financial reduced their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. UBS Group increased their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Wolfe Research began coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an "outperform" rating and a $95.00 price target for the company. Finally, Barclays dropped their price objective on BioMarin Pharmaceutical from $110.00 to $86.00 and set an "overweight" rating on the stock in a research note on Friday, October 4th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.20.
Read Our Latest Research Report on BioMarin Pharmaceutical
BioMarin Pharmaceutical Stock Up 0.7 %
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 firm has a market cap of $13.03 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 0.65 and a beta of 0.29. The firm's 50 day simple moving average is $65.73 and its two-hundred day simple moving average is $75.32.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same period in the prior year, the company earned $0.26 EPS. The company's revenue for the quarter was up 28.4% compared to the same quarter last year. On average, equities analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current year.
Insider Activity at BioMarin Pharmaceutical
In related news, EVP Charles Greg Guyer sold 5,278 shares of the firm's 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 sale, the executive vice president now directly owns 68,909 shares of the company's stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.85% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in BMRN. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $28,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. TD Private Client Wealth LLC increased its holdings in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company's stock worth $36,000 after buying an additional 186 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 663 shares in the last quarter. Institutional investors own 98.71% of the company's stock.
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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