BioMarin Pharmaceutical (NASDAQ:BMRN) PT Raised to $85.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target hoisted by Scotiabank from $83.00 to $85.00 in a report released on Thursday, Benzinga reports. Scotiabank currently has a sector perform rating on the biotechnology company’s stock.

Several other research analysts also recently commented on BMRN. Canaccord Genuity Group reaffirmed a hold rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 29th. Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating on the stock in a research note on Friday, February 23rd. Cantor Fitzgerald reiterated an overweight rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. Wells Fargo & Company increased their target price on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Royal Bank of Canada reiterated a sector perform rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of Moderate Buy and a consensus target price of $107.50.

BioMarin Pharmaceutical Stock Down 1.5 %

BMRN opened at $80.91 on Thursday. The company has a 50 day moving average of $87.58 and a 200 day moving average of $89.14. The company has a market cap of $15.27 billion, a PE ratio of 75.62, a price-to-earnings-growth ratio of 1.51 and a beta of 0.31. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. BioMarin Pharmaceutical’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. On average, sell-side analysts expect that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the transaction, the director now owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the transaction, the insider now owns 212,117 shares in the company, valued at approximately $18,068,126.06. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock worth $9,062,967 in the last 90 days. 1.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently added to or reduced their stakes in the company. KB Financial Partners LLC grew its holdings in BioMarin Pharmaceutical by 51.3% in the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 118 shares during the last quarter. Castleview Partners LLC bought a new stake in BioMarin Pharmaceutical in the 3rd quarter worth $35,000. Lindbrook Capital LLC grew its holdings in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical in the 4th quarter worth $43,000. Institutional investors own 98.71% of the company’s stock.

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.