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

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given a consensus rating of “Moderate Buy” by the twenty-four ratings firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $94.00.

Several analysts have recently weighed in on BMRN shares. Scotiabank lifted their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Bank of America boosted their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th.

BioMarin Pharmaceutical Stock Down 2.1 %

Shares of NASDAQ:BMRN opened at $70.49 on Wednesday. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 0.61 and a beta of 0.33. The firm’s 50-day simple moving average is $65.99 and its 200-day simple moving average is $69.08. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The business 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%. As a group, equities research analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently modified their holdings of BMRN. Norges Bank acquired a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $234,645,000. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Soleus Capital Management L.P. acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth approximately $65,822,000. Dodge & Cox raised its stake in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after purchasing an additional 847,917 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $48,527,000. 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.