BioMarin Pharmaceutical (NASDAQ:BMRN) PT Lowered to $112.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price decreased by research analysts at Morgan Stanley from $115.00 to $112.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price target indicates a potential upside of 37.34% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird dropped their target price on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Citigroup decreased their price target on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday. Piper Sandler cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Scotiabank increased their target price on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a “sector perform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $107.50.

BioMarin Pharmaceutical Stock Down 0.8 %

Shares of BioMarin Pharmaceutical stock traded down $0.62 during trading hours on Friday, reaching $81.55. 1,067,979 shares of the company’s stock were exchanged, compared to its average volume of 1,432,098. The stock has a market cap of $15.39 billion, a P/E ratio of 76.07, a P/E/G ratio of 1.68 and a beta of 0.31. The company has a 50 day moving average of $87.74 and a two-hundred day moving average of $89.18. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. BioMarin Pharmaceutical has a fifty-two week low of $76.02 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. The firm had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. On average, sell-side analysts forecast that BioMarin Pharmaceutical will post 1.85 EPS for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares in the company, valued at approximately $37,042,464.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.28, for a total value of $1,324,200.00. Following the completion of the transaction, the director now directly owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Erin Burkhart sold 2,286 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the transaction, the chief accounting officer now owns 16,156 shares of the company’s stock, valued at $1,454,040. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 over the last 90 days. 1.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently added to or reduced their stakes in BMRN. Stratos Wealth Partners LTD. raised its stake in shares of BioMarin Pharmaceutical by 2.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock worth $550,000 after buying an additional 115 shares during the period. CWM LLC raised its stake in BioMarin Pharmaceutical by 10.0% during the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 118 shares during the period. KB Financial Partners LLC lifted its holdings in BioMarin Pharmaceutical by 51.3% during the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of BioMarin Pharmaceutical by 33.3% in the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares during the period. Finally, Atria Wealth Solutions Inc. increased its stake in shares of BioMarin Pharmaceutical by 1.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock worth $938,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

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.