BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Tuesday.
A number of other brokerages have also issued reports on BMRN. Jefferies Financial Group reissued a "buy" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Robert W. Baird reaffirmed an "outperform" rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, June 28th. Wedbush reaffirmed a "hold" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, June 24th. Stifel Nicolaus reaffirmed a "buy" rating and set a $96.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 3rd. Finally, SVB Leerink lifted their target price on shares of BioMarin Pharmaceutical from $115.00 to $122.00 and gave the company an "outperform" rating in a research note on Thursday, August 4th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average target price of $110.93.
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BioMarin Pharmaceutical Price Performance
Shares of BioMarin Pharmaceutical stock opened at $96.00 on Tuesday. The firm has a market cap of $17.81 billion, a PE ratio of 369.24, a price-to-earnings-growth ratio of 1.97 and a beta of 0.33. BioMarin Pharmaceutical has a 12-month low of $70.73 and a 12-month high of $97.76. The company has a quick ratio of 3.69, a current ratio of 5.42 and a debt-to-equity ratio of 0.24. The company's fifty day simple moving average is $83.95 and its two-hundred day simple moving average is $82.44.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.04. BioMarin Pharmaceutical had a net
margin of 2.83% and a return on equity of 1.78%. During the same period last year, the firm posted $0.23 EPS. As a group, equities analysts expect that BioMarin Pharmaceutical will post 0.98 EPS for the current year.
Insiders Place Their Bets
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,308 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $78.94, for a total value of $103,253.52. Following the completion of the transaction, the executive vice president now directly owns 54,109 shares of the company's stock, valued at $4,271,364.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 7,337 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the transaction, the chief financial officer now directly owns 30,726 shares of the company's stock, valued at $2,749,977. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the sale, the executive vice president now owns 54,109 shares of the company's stock, valued at $4,271,364.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,248 shares of company stock valued at $2,024,890. Insiders own 1.75% of the company's stock.
Institutional Trading of BioMarin Pharmaceutical
A number of large investors have recently made changes to their positions in the stock. Synovus Financial Corp grew its stake in shares of BioMarin Pharmaceutical by 2.5% in the second quarter. Synovus Financial Corp now owns 20,067 shares of the biotechnology company's stock worth $1,657,000 after acquiring an additional 485 shares during the period. Sivik Global Healthcare LLC grew its stake in shares of BioMarin Pharmaceutical by 18.8% in the second quarter. Sivik Global Healthcare LLC now owns 47,500 shares of the biotechnology company's stock worth $3,936,000 after acquiring an additional 7,500 shares during the period. Principal Financial Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 2.8% in the second quarter. Principal Financial Group Inc. now owns 44,475 shares of the biotechnology company's stock worth $3,685,000 after acquiring an additional 1,193 shares during the period. Desjardins Global Asset Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 43.2% in the second quarter. Desjardins Global Asset Management Inc. now owns 815 shares of the biotechnology company's stock worth $67,000 after acquiring an additional 246 shares during the period. Finally, Cerity Partners LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth approximately $273,000. 95.45% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Company Profile
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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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