BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Given Average Recommendation of "Moderate Buy" by Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-three research firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $93.14.

A number of equities analysts have recently commented on the stock. Piper Sandler increased their price objective on shares of 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 shares of BioMarin Pharmaceutical from a "buy" rating to a "strong-buy" rating in a research note on Friday. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective for the company in a research note on Monday, February 24th. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th.

BioMarin Pharmaceutical Stock Up 0.5 %

NASDAQ BMRN traded up $0.30 on Thursday, reaching $63.28. The company had a trading volume of 1,226,011 shares, compared to its average volume of 1,862,691. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical has a 1-year low of $52.93 and a 1-year high of $94.85. The company's fifty day moving average is $66.24 and its 200-day moving average is $65.90.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. On average, research analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Byrne Financial Freedom LLC boosted its position in shares of BioMarin Pharmaceutical by 4.4% during the 1st quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 161 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company's stock worth $2,546,000 after acquiring an additional 164 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company's stock worth $89,000 after acquiring an additional 165 shares in the last quarter. Freedom Investment Management Inc. boosted its position in shares of BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company's stock worth $330,000 after acquiring an additional 184 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in shares of BioMarin Pharmaceutical by 1.4% during the 4th quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company's stock worth $966,000 after acquiring an additional 200 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Company Profile

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.