BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) saw its price target raised by Credit Suisse Group equity researchers to $111.00 in a research report released on Tuesday, Target Stock Advisor reports. Credit Suisse Group’s price target suggests upside potential of 15.63% from the stock’s previous close.
Other stock analysts have also published research reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a target price of $100.00 on BioMarin Pharmaceutical shares in a research report on Wednesday, May 4. Cantor Fitzgerald kicked off BioMarin Pharmaceutical stock coverage in a Tuesday, July 12 research note. They set an “overweight” rating and a price target of $110.00 on the stock. Piper Sandler raised her target price on BioMarin Pharmaceutical from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday. Robert W. Baird reiterated an “outperform” rating and set a $112.00 price target on BioMarin Pharmaceutical shares in a Tuesday, June 28 research report. To finish, StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Tuesday. Three research analysts gave the stock a hold rating and thirteen gave the stock a buy rating. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $110.93.
BioMarin Pharmaceutical Stock Performance
BMRN opened at $96.00 on Tuesday. The company has a current ratio of 5.42, a quick ratio of 3.69 and a debt ratio of 0.24. The company’s 50-day moving average is $83.95 and its 200-day moving average is $82.44. The stock has a market capitalization of $17.81 billion, a PE ratio of 369.24, a growth price-earnings 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.
BioMarin Pharmaceutical (NASDAQ: BMRN – Get a rating) last announced its results on Wednesday, August 3. The biotech company reported earnings per share of $0.15 for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. In the same quarter a year earlier, the company posted EPS of $0.23. On average, analysts predict that BioMarin Pharmaceutical will post 0.98 earnings per share for the current year.
Insider Trading at BioMarin Pharmaceutical
In related news, Executive Vice President Charles Greg Guyer sold 6,205 shares of the company in a trade that took place on Monday, August 8. The shares were sold at an average price of $96.56, for a total value of $599,154.80. Following the completion of the sale, the executive vice president now owns 42,168 shares of the company, valued at approximately $4,071,742.08. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Separately, Executive Vice President Charles Greg Guyer sold 6,205 shares of the company in a transaction on Monday, August 8. The stock was sold at an average price of $96.56, for a total transaction of $599,154.80. Following the transaction, the executive vice president now directly owns 42,168 shares of the company, valued at $4,071,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, VPE Jeffrey Robert Ajer sold 1,308 shares of the company in a transaction dated Thursday, May 26. The stock was sold at an average price of $78.94, for a total value of $103,253.52. Following the sale, the executive vice president now owns 54,109 shares of the company, valued at $4,271,364.46. Disclosure of this sale can be found here. Insiders sold a total of 22,248 shares of the company valued at $2,024,890 in the past ninety days. Company insiders hold 1.75% of the company’s shares.
Institutional entries and exits
A number of institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Acadian Asset Management LLC increased its holdings of BioMarin Pharmaceutical shares by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotech company valued at $32,000 after acquiring 344 additional shares last quarter. CWM LLC increased its position in BioMarin Pharmaceutical by 435.2% during the first quarter. CWM LLC now owns 487 shares of the biotech company valued at $38,000 after buying 396 additional shares in the last quarter. First Horizon Advisors Inc. increased its stake in BioMarin Pharmaceutical by 1,014.6% in the second quarter. First Horizon Advisors Inc. now owns 535 shares of the biotech company valued at $43,000 after buying 487 additional shares last quarter. Covington Capital Management increased its position in BioMarin Pharmaceutical by 40.8% in the second quarter. Covington Capital Management now owns 704 shares of the biotech company worth $58,000 after buying 204 more shares in the last quarter. Finally, CKW Financial Group increased its stake in BioMarin Pharmaceutical shares by 23.1% during the 1st quarter. CKW Financial Group now owns 800 shares of the biotech company worth $63,000 after buying an additional 150 shares in the last quarter. 95.45% of the shares are held by hedge funds and other institutional investors.
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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