BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus rating of “Moderate Buy” from the twenty-four analysts that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $94.00.

BMRN has been the subject of a number of research analyst reports. Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a research report on Monday, February 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup increased their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Monday.

BioMarin Pharmaceutical Stock Up 1.4 %

Shares of BioMarin Pharmaceutical stock opened at $72.23 on Wednesday. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $65.76 and a 200 day moving average price of $69.34. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The firm has a market cap of $13.78 billion, a P/E ratio of 32.83, a P/E/G ratio of 0.61 and a beta of 0.33.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently bought and sold shares of BMRN. LRI Investments LLC boosted its position in BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 437 shares during the last quarter. TD Private Client Wealth LLC grew its stake in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC lifted its holdings 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 valued at $41,000 after purchasing an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

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.