BioMarin Pharmaceutical (NASDAQ:BMRN – Get Assessment) had its price target reduced by Wedbush investment analysts from $146.00 to $70.00 in a report on Monday, reports The Fly. The brokerage currently has a “neutral” rating on shares of the biotech company. Wedbush’s price target indicates a potential decline of 2.38% from the current stock price.
The BMRN has been the subject of a number of other reports. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised its target price for the stock from $96.00 to $113.00 in a research note Monday, April 25. Piper Sandler raised her price target on BioMarin Pharmaceutical shares from $121.00 to $125.00 and gave the company an “overweight” rating in a Thursday, Feb. 24 research note. StockNews.com downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a Monday, May 30 research rating. Credit Suisse Group raised its price target on BioMarin Pharmaceutical from $105.00 to $106.00 and gave the company an “outperform” rating in a Monday, June 6 research report. Finally, Stifel Nicolaus reissued a “buy” rating and posted a $96.00 price target on BioMarin Pharmaceutical shares in a research report on Tuesday, May 3. Four analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $108.46.
BioMarin Pharmaceutical stock traded at $3.37 at midday Monday, hitting $71.71. 17,485 shares of the stock trade in hands, compared to its average volume of 1,254,305. The stock’s fifty-day moving average is $79.78 and its 200-day moving average is $82.90 . BioMarin Pharmaceutical has a 12-month low of $71.59 and a 12-month high of $94.20. The stock has a market capitalization of $13.27 billion, a P/E ratio of 417.11, a PEG ratio of 1.58 and a beta of 0.42. The company has a quick ratio of 3.28, a current ratio of 4.88 and a leverage ratio of 0.25.
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last reported quarterly results on Wednesday, April 27. The biotech company reported EPS of $0.31 for the quarter, beating consensus analyst estimates of $0.15 by $0.16. BioMarin Pharmaceutical achieved a return on equity of 1.36% and a net margin of 2.09%. The company posted revenue of $519.36 million in the quarter, versus analyst estimates of $505.11 million. In the same period a year earlier, the company had earned earnings per share of $0.29. On average, stock analysts predict that BioMarin Pharmaceutical will post an EPS of 0.94 for the current fiscal year.
In other BioMarin Pharmaceutical news, Chief Financial Officer Brian Mueller sold 11,800 shares of BioMarin Pharmaceutical in a trade dated Wednesday, May 4. The stock was sold at an average price of $84.50, for a total transaction of $997,100.00. Following the completion of the sale, the CFO now owns 38,639 shares of the company, valued at approximately $3,264,995.50. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical in a trade dated Thursday, May 5. The stock was sold at an average price of $84.14, for a total value of $841,400.00. As a result of the sale, the CEO now directly owns 335,324 shares of the company, valued at approximately $28,214,161.36. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 111,639 shares of the company valued at $9,225,134. 1.75% of the shares are currently held by insiders.
Several hedge funds have recently changed their holdings in the company. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 16,502,243 shares of the biotech company valued at $1,272,322,000 after purchasing an additional 151,212 shares during the period. Viking Global Investors LP increased its equity stake in BioMarin Pharmaceutical by 30.7% in Q1. Viking Global Investors LP now owns 3,752,393 shares of the biotech company valued at $289,310,000 after buying an additional 882,446 shares last quarter. Geode Capital Management LLC increased its stake in shares of BioMarin Pharmaceutical by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 2,399,343 shares of the biotech company valued at $211,671,000 after purchasing an additional 76,459 shares last quarter. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter, valued at approximately $207,582,000. Finally, Adage Capital Partners GP LLC increased its stake in BioMarin Pharmaceutical shares by 372.7% in the 4th quarter. Adage Capital Partners GP LLC now owns 1,865,000 shares of the biotech company valued at $164,773,000 after buying an additional 1,470,498 shares last quarter. 95.45% of the shares are held by institutional investors and hedge funds.
BioMarin Pharmaceutical Company Profile (Get a rating)
BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious, life-threatening 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 used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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