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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $94.00.

A number of research analysts recently weighed in on BMRN shares. UBS Group lifted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a research report on Monday, February 24th.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $70.49 on Wednesday. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The stock has a market capitalization of $13.45 billion, a P/E ratio of 32.04, a PEG ratio of 0.61 and a beta of 0.33. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average price is $65.99 and its 200 day moving average price is $69.08.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. As a group, research analysts anticipate that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale 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 Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of BMRN. LRI Investments LLC raised its position in shares of BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 437 shares during the period. TD Private Client Wealth LLC raised its position in shares of 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 purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC raised its position in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the period. Finally, Meeder Asset Management Inc. raised its position 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 worth $52,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.