BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $106.11 Average Price Target from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received an average recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $106.11.

BMRN has been the topic of several research reports. Scotiabank boosted their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a report on Thursday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. Baird R W cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler reduced their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, February 23rd.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $80.69 on Monday. The stock has a market cap of $15.32 billion, a P/E ratio of 75.41, a price-to-earnings-growth ratio of 1.15 and a beta of 0.31. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average is $82.85 and its 200-day moving average is $88.09. BioMarin Pharmaceutical has a 1-year low of $73.68 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. Equities research analysts anticipate that BioMarin Pharmaceutical will post 1.99 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $74.51, for a total value of $3,043,733.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at approximately $4,184,258.07. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total value of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. Insiders have sold 114,588 shares of company stock worth $9,413,633 in the last ninety days. Company insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock valued at $5,840,000 after buying an additional 59,760 shares in the last quarter. International Assets Investment Management LLC purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $3,598,000. FMR LLC grew its holdings in BioMarin Pharmaceutical by 30.4% during the 3rd quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after buying an additional 166,219 shares in the last quarter. Nordea Investment Management AB grew its holdings in BioMarin Pharmaceutical by 4.9% during the 4th quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after buying an additional 544 shares in the last quarter. Finally, ING Groep NV purchased a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $20,248,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.