Credit Suisse Group raises BioMarin Pharmaceutical (NASDAQ:BMRN) price target to $106.00


BioMarin Pharmaceutical (NASDAQ:BMRN – Get Assessment) had its price target raised by Credit Suisse Group research analysts from $105.00 to $106.00 in a report on Monday, reports The Fly. Credit Suisse Group’s price target suggests a potential upside of 36.79% from the stock’s previous close.

Several other research companies have also recently commented on the BMRN. Jefferies Financial Group reaffirmed a “buy” rating and set a price target of $100.00 on shares of BioMarin Pharmaceutical in a Wednesday, May 4 research note. Morgan Stanley downgraded BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and raised its target price for the company from $96.00 to $113.00 in a Monday, April 25 report. Piper Sandler raised her price target on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the stock an “overweight” rating in a Thursday, Feb. 24 research note. StockNews.com downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a Monday, May 30 research report. Finally, Stifel Nicolaus reworded a “buy” rating and set a target price of $96.00 on BioMarin Pharmaceutical shares in a Tuesday, May 3 research note. Four investment analysts gave the stock a hold rating and eleven gave the company a buy rating. Based on MarketBeat data, BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average target price of $112.00.

Shares of BioMarin Pharmaceutical opened at $77.49 on Monday. BioMarin Pharmaceutical has a 1-year low of $71.59 and a 1-year high of $94.20. The company has a market capitalization of $14.34 billion, a price/earnings ratio of 430.50, a PEG ratio of 1.63 and a beta of 0.42. The company has a debt ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. The company’s 50-day moving average price is $79.95 and its 200-day moving average price is $83.37.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last released its quarterly earnings data on Wednesday, April 27. The biotech company reported earnings per share 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, compared to $505.11 million expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.29. On average, analysts predict that BioMarin Pharmaceutical will post EPS of 0.94 for the current fiscal year.

In addition, CEO Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical in a transaction dated Thursday, March 10. The stock was sold at an average price of $77.57, for a total value of $1,163,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Additionally, Executive Vice President Jeffrey Robert Ajer sold 1,308 shares of the company in a trade dated Thursday, May 26. The shares were sold at an average price of $78.94, for a total value of $103,253.52. Following the sale, the executive vice president now owns 54,109 shares of the company, valued at $4,271,364.46. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 126,639 shares of the company valued at $10,388,684. 1.75% of the shares are held by insiders of the company.

Several large investors have recently changed their stake in the company. Norges Bank bought a new position in shares of BioMarin Pharmaceutical during Q4 for a value of approximately $207,582,000. Adage Capital Partners GP LLC increased its stake in BioMarin Pharmaceutical by 372.7% during the 4th quarter. Adage Capital Partners GP LLC now owns 1,865,000 shares of the biotech company worth $164,773,000 after buying 1,470,498 additional shares in the last quarter. Perceptive Advisors LLC acquired a new stake in the shares of BioMarin Pharmaceutical during the 4th quarter for a value of approximately $104,253,000. Camber Capital Management LP acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter at a value of $88,884,000. Finally, Viking Global Investors LP increased its equity stake in BioMarin Pharmaceutical by 30.7% during the first quarter. Viking Global Investors LP now owns 3,752,393 shares of the biotech company worth $289,310,000 after acquiring an additional 882,446 shares last quarter. 95.45% of the shares are currently held by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile (Get an assessment)

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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