BioMarin Pharmaceutical Inc. (NASDAQ: BMRN – Get a rating) received an average recommendation of “moderate buy” from the seventeen brokerages that currently cover the company, Marketbeat reports. Two equity research analysts rated the stock with a hold recommendation and twelve gave the company a buy recommendation. The 12-month average price target among brokerages that have issued ratings on the stock over the past year is $112.86.
Several research analysts have recently weighed in on the stock. Barclays raised its price target on BioMarin Pharmaceutical shares from $112.00 to $125.00 and gave the stock an “overweight” rating in a Thursday, August 4, research note. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a Tuesday, Aug. 9 research note. Piper Sandler raised her price target on BioMarin Pharmaceutical shares from $125.00 to $128.00 and gave the company an “overweight” rating in a Tuesday, Aug. 9 research note. Robert W. Baird reiterated an “outperform” rating and posted a $112.00 price target on BioMarin Pharmaceutical shares in a research note on Friday, August 26. Finally, TheStreet upgraded shares of BioMarin Pharmaceutical from a “c+” rating to a “b-” rating in a Friday, September 9 research note.
Insider Trading at BioMarin Pharmaceutical
In other news, CFO Brian Müller sold 7,337 shares of the company in a transaction that took place on Friday, July 8. The shares were sold at an average price of $89.50, for a total transaction of $656,661.50. Following the completion of the sale, the CFO now owns 30,726 shares of the company, valued at approximately $2,749,977. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. In related news, CFO Brian Müller sold 7,337 shares in a trade that took place on Friday, July 8. 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 CFO now owns 30,726 shares of the company, valued at approximately $2,749,977. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. Also, VPE George Eric Davis sold 7,398 shares of the company in a trade on Friday, July 8. The stock was sold at an average price of $90.00, for a total transaction of $665,820.00. Following the completion of the sale, the executive vice president now owns 58,941 shares of the company, valued at $5,304,690. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 30,940 shares of the company valued at $2,873,126. Insiders of the company own 1.75% of the shares of the company.
BioMarin Pharmaceutical Institutional Trading
Several hedge funds have recently increased or reduced their holdings in the stock. Private Trust Co. NA bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $57,000. Prelude Capital Management LLC purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $811,000. Legal & General Group Plc increased its stake in BioMarin Pharmaceutical by 5.6% in the 2nd quarter. Legal & General Group Plc now owns 1,250,892 shares in the biotech company worth $103,662,000 after buying an additional 66,683 shares last quarter. ExodusPoint Capital Management LP increased its stake in BioMarin Pharmaceutical by 427.6% in Q2. ExodusPoint Capital Management LP now owns 111,470 shares of the biotech company worth $9,238,000 after buying an additional 90,341 shares last quarter. Finally, Centiva Capital LP increased its stake in BioMarin Pharmaceutical by 17.3% in the 2nd quarter. Centiva Capital LP now owns 30,210 shares of the biotech company worth $2,504,000 after buying 4,460 more shares last quarter. Institutional investors hold 94.84% of the company’s shares.
BioMarin Pharmaceutical trades up 0.1%
BMRN opened at $88.21 on Friday. The stock has a market capitalization of $16.36 billion, a P/E ratio of 339.28, a P/E/G ratio of 1.90 and a beta of 0.32. BioMarin Pharmaceutical has a 12-month low of $70.73 and a 12-month high of $97.76. The company’s fifty-day simple moving average is $90.06 and its 200-day simple moving average is $83.31. The company has a current ratio of 5.42, a quick ratio of 3.69 and a debt ratio of 0.24.
BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) last released its quarterly results on Wednesday, August 3. The biotech company reported EPS of $0.15 for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical achieved a net margin of 2.83% and a return on equity of 1.78%. In the same quarter a year earlier, the company posted EPS of $0.23. As a group, research analysts expect BioMarin Pharmaceutical to post EPS of 0.91 for the current fiscal year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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