BioMarin Pharmaceutical's (BMRN) "Overweight" Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $110.00 target price on the biotechnology company's stock.

Several other research firms have also issued reports on BMRN. Piper Sandler lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating for the company in a report on Friday, February 23rd. Robert W. Baird lowered their price objective on BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada reissued a sector perform rating and issued a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Wells Fargo & Company raised their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an overweight rating in a report on Thursday. Finally, Canaccord Genuity Group reiterated a hold rating and issued a $91.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $107.89.

BioMarin Pharmaceutical Stock Down 9.9 %

Shares of NASDAQ BMRN traded down $9.03 during mid-day trading on Thursday, hitting $82.17. 7,884,446 shares of the stock traded hands, compared to its average volume of 1,437,064. The stock has a fifty day moving average price of $87.74 and a 200-day moving average price of $89.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The company has a market cap of $15.51 billion, a price-to-earnings ratio of 93.38, a PEG ratio of 1.70 and a beta of 0.31. BioMarin Pharmaceutical has a 52 week low of $76.02 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. The firm had revenue of $646.21 million for the quarter, compared to analysts' expectations of $639.53 million. BioMarin Pharmaceutical had a net margin of 6.93% and a return on equity of 5.01%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS. Research analysts anticipate that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the transaction, the director now directly owns 474,994 shares of the company's stock, valued at approximately $43,347,952.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Erin Burkhart sold 2,286 shares of the business's 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 completion of the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at $1,454,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the sale, the director now owns 474,994 shares of the company's stock, valued at $43,347,952.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,229 shares of company stock valued at $9,062,967. Company insiders own 1.84% of the company's stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KB Financial Partners LLC lifted its holdings in shares of BioMarin Pharmaceutical by 51.3% in the third quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company's stock worth $31,000 after buying an additional 118 shares in the last quarter. Castleview Partners LLC purchased a new stake in BioMarin Pharmaceutical during the third quarter valued at $35,000. Lindbrook Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company's stock worth $37,000 after buying an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company's stock valued at $42,000 after buying an additional 249 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $43,000. 98.71% of the stock is owned by institutional investors.

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.