Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) have been assigned a consensus rating of "Moderate Buy" from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $113.67.
A number of research firms recently weighed in on BMRN. Evercore ISI upped their price target on BioMarin Pharmaceutical to $130.00 in a report on Friday, December 2nd. Credit Suisse Group reduced their target price on BioMarin Pharmaceutical from $111.00 to $110.00 and set an "outperform" rating for the company in a report on Thursday, October 27th. TheStreet raised BioMarin Pharmaceutical from a "c" rating to a "b-" rating in a report on Thursday, October 27th. StockNews.com started coverage on BioMarin Pharmaceutical in a report on Wednesday, October 12th. They set a "buy" rating for the company. Finally, Cantor Fitzgerald upped their price target on BioMarin Pharmaceutical from $110.00 to $115.00 in a research report on Wednesday, October 12th.
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Insider Activity
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,000 shares of the firm's stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $106.89, for a total value of $106,890.00. Following the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at $34,250,121.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 1,000 shares of the firm's stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $106.89, for a total value of $106,890.00. Following the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at $34,250,121.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian Mueller sold 7,001 shares of the firm's stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $104.50, for a total value of $731,604.50. Following the completion of the sale, the chief financial officer now owns 27,746 shares in the company, valued at $2,899,457. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,880 shares of company stock worth $2,542,028. 1.75% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On BioMarin Pharmaceutical
Several institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its holdings in BioMarin Pharmaceutical by 188.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 344 shares in the last quarter. Capital Wealth Alliance LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth $34,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of BioMarin Pharmaceutical by 1,014.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company's stock.
BioMarin Pharmaceutical Price Performance
Shares of BioMarin Pharmaceutical stock opened at $104.34 on Monday. The stock has a market cap of $19.35 billion, a price-to-earnings ratio of 248.43, a price-to-earnings-growth ratio of 2.38 and a beta of 0.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.54 and a current ratio of 5.15. The stock has a 50 day moving average price of $94.35 and a 200-day moving average price of $89.68. BioMarin Pharmaceutical has a one year low of $70.73 and a one year high of $109.56.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.04. The business had revenue of $505.30 million for the quarter, compared to the consensus estimate of $516.03 million. BioMarin Pharmaceutical had a return on equity of 2.50% and a net margin of 4.18%. The business's revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. Equities analysts expect that BioMarin Pharmaceutical will post 0.87 EPS for the current year.
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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