Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Target Price at $94.00

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

Several research firms have recently commented on BMRN. Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Bank of America upped their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. StockNews.com lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,295 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. LRI Investments LLC boosted its holdings in BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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 buying an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of BioMarin Pharmaceutical by 71.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $60.26 on Friday. 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’s fifty day moving average is $67.95 and its two-hundred day moving average is $67.22. The firm has a market capitalization of $11.50 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical has a fifty-two week low of $59.99 and a fifty-two week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly 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. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. On average, research analysts anticipate that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

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.