BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Average Rating of “Moderate Buy” by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are presently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $94.20.

A number of research firms have recently commented on BMRN. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $79.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, October 10th. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th.

BioMarin Pharmaceutical Trading Up 0.5 %

Shares of NASDAQ BMRN opened at $66.63 on Friday. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 39.90, a PEG ratio of 0.65 and a beta of 0.29. The business has a 50 day simple moving average of $66.50 and a 200 day simple moving average of $76.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical has a 52 week low of $61.15 and a 52 week high of $99.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $703.37 million. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, research analysts predict that BioMarin Pharmaceutical will post 2.49 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the transaction, the executive vice president now owns 68,909 shares of the company’s stock, 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 SEC, which is available through this link. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. nVerses Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth $28,000. BOKF NA bought a new stake in BioMarin Pharmaceutical in the second quarter valued at about $31,000. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 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 currently 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.