BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $107.61 Consensus Target Price from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $107.61.

A number of research firms have commented on BMRN. Stifel Nicolaus restated a “buy” rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Robert W. Baird decreased their price target on BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Canaccord Genuity Group reiterated a “hold” rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Finally, Piper Sandler decreased their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, February 23rd.

Insiders Place Their Bets

In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.51, for a total value of $85,510.00. Following the completion of the transaction, the director now directly owns 561,203 shares in the company, valued at $47,988,468.53. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,229 shares of company stock valued at $9,062,967. 1.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. KB Financial Partners LLC increased its position in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 118 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $31,000. Acadian Asset Management LLC increased its position in BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 344 shares in the last quarter. Castleview Partners LLC bought a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at about $35,000. Finally, MayTech Global Investments LLC bought a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $36,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $90.07 on Friday. The stock has a 50 day moving average price of $87.61 and a 200 day moving average price of $89.11. BioMarin Pharmaceutical has a 52 week low of $76.02 and a 52 week high of $99.56. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The stock has a market capitalization of $17.00 billion, a PE ratio of 102.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. Analysts predict that BioMarin Pharmaceutical will post 1.85 earnings per share for the current fiscal year.

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.