BioMarin Pharmaceutical (NASDAQ: BMRN – Get Rating)‘s stock had its “outperform” rating reissued by equities research analysts at Robert W. Baird in a research note issued to investors on Tuesday. They presently have a $ 112.00 price target on the biotechnology company stock. Robert W. Baird’s price target indicates a potential upside of 33.46% from the stock’s current price.
Several other research analysts have also recently commented on BMRN. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $ 96.00 to $ 113.00 in a report on Monday, April 25th. Jefferies Financial Group reiterated a “buy” rating and set a $ 100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Wedbush reiterated a “hold” rating and set a $ 70.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, June 24th. Credit Suisse Group boosted their price objective on shares of BioMarin Pharmaceutical from $ 105.00 to $ 106.00 and gave the stock an “outperform” rating in a research report on Monday, June 6th. Finally, Stifel Nicolaus restated a “buy” rating and set a $ 96.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 3rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $ 108.46.
Shares of BMRN opened at $ 83.92 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.88 and a quick ratio of 3.28. The stock has a market cap of $ 15.52 billion, a PE ratio of 466.22, a P / E / G ratio of 1.82 and a beta of 0.42. The firm has a 50-day simple moving average of $ 78.94 and a two-hundred day simple moving average of $ 82.33. BioMarin Pharmaceutical has a 1-year low of $ 70.73 and a 1-year high of $ 94.20.
BioMarin Pharmaceutical (NASDAQ: BMRN – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The biotechnology company reported $ 0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.15 by $ 0.16. The firm had revenue of $ 519.36 million during the quarter, compared to analysts’ expectations of $ 505.11 million. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. During the same quarter in the previous year, the business posted $ 0.29 earnings per share. As a group, sell-side analysts expect that BioMarin Pharmaceutical will post 0.94 earnings per share for the current fiscal year.
In related news, CFO Brian Mueller sold 11,800 shares of the stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 84.50, for a total value of $ 997,100.00. Following the sale, the chief financial officer now directly owns 38,639 shares of the company stock, valued at approximately $ 3,264,995.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $ 83.66, for a total transaction of $ 836,600.00. Following the completion of the sale, the chief executive officer now directly owns 334,983 shares in the company, valued at $ 28,024,677.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,763 shares of company stock valued at $ 8,097,160. 1.75% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC lifted its holdings in BioMarin Pharmaceutical by 395.4% in the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company stock valued at $ 32,000 after purchasing an additional 344 shares in the last quarter. Spire Wealth Management lifted its holdings in BioMarin Pharmaceutical by 59.7% in the 4th quarter. Spire Wealth Management now owns 377 shares of the biotechnology company stock valued at $ 33,000 after purchasing an additional 141 shares in the last quarter. CWM LLC lifted its holdings in shares of BioMarin Pharmaceutical by 435.2% during the 1st quarter. CWM LLC now owns 487 shares of the biotechnology company stock worth $ 38,000 after acquiring an additional 396 shares during the period. Desjardins Global Asset Management Inc. purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $ 53,000. Finally, CKW Financial Group lifted its holdings in shares of BioMarin Pharmaceutical by 23.1% during the 1st quarter. CKW Financial Group now owns 800 shares of the biotechnology company stock worth $ 63,000 after acquiring an additional 150 shares during the period. 95.45% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical: (Get Rating)
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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