BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $94.00 Average PT from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average recommendation of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $94.00.

Several equities research analysts have weighed in on BMRN shares. Piper Sandler upped their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Monday. UBS Group raised their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Scotiabank increased their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th.

Insiders Place Their Bets

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical 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 sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $234,645,000. Capital Research Global Investors grew its position in 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 worth $853,944,000 after acquiring an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth $65,822,000. Dodge & Cox grew its position in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in BioMarin Pharmaceutical in the third quarter worth $48,527,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $72.23 on Wednesday. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 month high of $94.85. The stock’s 50 day moving average is $65.76 and its 200-day moving average is $69.34. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Equities research analysts expect that BioMarin Pharmaceutical will post 3.15 EPS 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.