BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $107.61 Consensus Target Price from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) have received an average recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $107.61.

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an "overweight" rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group restated a "hold" rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Stifel Nicolaus restated a "buy" rating and set a $101.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 21st. Robert W. Baird lowered their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd.

BioMarin Pharmaceutical Price Performance

BMRN stock traded up $0.76 during trading on Friday, reaching $92.22. The company's stock had a trading volume of 2,419,825 shares, compared to its average volume of 1,183,990. BioMarin Pharmaceutical has a 1 year low of $76.02 and a 1 year high of $100.38. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $17.40 billion, a P/E ratio of 104.80, a price-to-earnings-growth ratio of 1.76 and a beta of 0.31. The company's fifty day moving average is $87.46 and its 200-day moving average is $89.06.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.44 by $0.05. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The business had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same quarter in the prior year, the business posted $0.11 EPS. BioMarin Pharmaceutical's revenue for the quarter was up 20.2% compared to the same quarter last year. On average, research analysts expect that BioMarin Pharmaceutical will post 1.93 earnings per share for the current fiscal year.

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares of the company's stock, valued at $1,454,040. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on 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 transaction, the director now directly owns 419,602 shares of the company's stock, valued at $37,042,464.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction 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 directly owns 16,156 shares in the company, valued at $1,454,040. The disclosure for this sale can be found here. Insiders have sold a total of 83,229 shares of company stock valued at $7,237,767 over the last ninety days. 1.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. lifted its stake in shares of BioMarin Pharmaceutical by 2.1% during 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 lifted its position in BioMarin Pharmaceutical by 10.0% during the third quarter. CWM LLC now owns 1,301 shares of the biotechnology company's stock valued at $115,000 after purchasing an additional 118 shares during the period. KB Financial Partners LLC lifted its position 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 during the period. Virtus ETF Advisers LLC lifted its position in BioMarin Pharmaceutical by 3.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 3,342 shares of the biotechnology company's stock valued at $322,000 after purchasing an additional 121 shares during the period. Finally, Howe & Rusling Inc. lifted its position in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Howe & Rusling Inc. now owns 36,279 shares of the biotechnology company's stock valued at $3,755,000 after purchasing an additional 128 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.