BioMarin Pharmaceutical (NASDAQ:BMRN) Sets New 12-Month Low – What’s Next?

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) hit a new 52-week low during trading on Friday . The stock traded as low as $60.10 and last traded at $60.58, with a volume of 2199721 shares traded. The stock had previously closed at $67.48.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com lowered BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 1st. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective on the stock in a report on Monday, February 24th. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Down 10.7 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market cap 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 company has a 50-day simple moving average of $67.95 and a 200-day simple moving average of $67.22.

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

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is owned by company insiders.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC raised its stake 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 buying an additional 437 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of BioMarin Pharmaceutical by 71.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 218 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $36,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in BioMarin Pharmaceutical by 64.2% during 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 during the last quarter. 98.71% of the stock is 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.