BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.00 Consensus Price Target from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $94.00.

BMRN has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group lifted their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup increased their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, StockNews.com downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st.

BioMarin Pharmaceutical Trading Down 10.7 %

Shares of NASDAQ:BMRN opened at $60.26 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The firm has a market capitalization of $11.50 billion, a P/E ratio of 27.39, a P/E/G ratio of 0.61 and a beta of 0.30. The business’s 50-day moving average is $67.95 and its 200 day moving average is $67.22. BioMarin Pharmaceutical has a 1 year low of $59.99 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, research analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the company. LRI Investments LLC increased its position in shares of BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 437 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $36,000. MassMutual Private Wealth & Trust FSB raised its position in shares of BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 218 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds 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.