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. The company's commercial products also comprise Palynziq, a PEGylated recombinant phenylalanine ammonia lyase enzyme, which is delivered through subcutaneous injection to reduce blood Phe concentrations; Brineura, a recombinant human tripeptidyl peptidase 1 for the treatment of patients with ceroid lipofuscinosis type 2, a form of Batten disease; Voxzogo, a once daily injection analog of c-type natriuretic peptide for the treatment of achondroplasia; and Aldurazyme, a purified protein designed to be identical to a naturally occurring form of the human enzyme alpha-L-iduronidase. In addition, it develops valoctocogene roxaparvovec, an adeno associated virus vector, which is in Phase III clinical trial for the treatment of patients with severe hemophilia A; BMN 307, an AAV5 mediated gene therapy, which is in Phase 1/2 clinical trial to normalize blood Phe concentration levels in patients with PKU; and BMN 255 that is in Phase 1/2 clinical trial for treating primary hyperoxaluria. The company serves specialty pharmacies, hospitals, and non-U.S. government agencies, as well as distributors and pharmaceutical wholesalers in the United States, Europe, Latin America, and internationally. BioMarin Pharmaceutical Inc. has license and collaboration agreements with Sarepta Therapeutics, Ares Trading S.A., Catalyst Pharmaceutical Partners, Inc., and Asubio Pharma Co., Ltd. The company was incorporated in 1996 and is headquartered in San Rafael, California.
Wall Street Analyst Weigh In
A number of equities analysts have commented on BMRN shares. SVB Leerink boosted their price target on shares of BioMarin Pharmaceutical from $115.00 to $122.00 and gave the stock an "outperform" rating in a research note on Thursday, August 4th. Cantor Fitzgerald began coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, July 12th. They set an "overweight" rating and a $110.00 price target for the company. Piper Sandler increased their price objective on shares of BioMarin Pharmaceutical from $125.00 to $128.00 and gave the company an "overweight" rating in a research report on Tuesday. Morgan Stanley increased their price objective on shares of BioMarin Pharmaceutical from $113.00 to $117.00 and gave the company an "overweight" rating in a research report on Thursday, August 4th. Finally, Barclays upped their target price on shares of BioMarin Pharmaceutical from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $110.93.
BioMarin Pharmaceutical Price Performance
NASDAQ:BMRN traded down $0.93 on Thursday, reaching $95.07. 1,226,746 shares of the stock traded hands, compared to its average volume of 1,245,007. BioMarin Pharmaceutical has a 12 month low of $70.73 and a 12 month high of $97.76. The firm's fifty day simple moving average is $83.95 and its 200 day simple moving average is $82.44. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 365.74, a P/E/G ratio of 2.08 and a beta of 0.33. The company has a quick ratio of 3.69, a current ratio of 5.42 and a debt-to-equity ratio of 0.24.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Rating) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.78% and a net margin of 2.83%. During the same period in the previous year, the firm earned $0.23 earnings per share. As a group, research analysts predict that BioMarin Pharmaceutical will post 0.92 EPS for the current fiscal year.
Insider Buying and Selling at BioMarin Pharmaceutical
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 7,398 shares of the company's stock in a transaction on Friday, July 8th. The stock was sold at an average price of $90.00, for a total transaction of $665,820.00. Following the transaction, the executive vice president now owns 58,941 shares of the company's stock, valued at approximately $5,304,690. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP George Eric Davis sold 7,398 shares of the company's stock in a transaction on Friday, July 8th. The shares were sold at an average price of $90.00, for a total value of $665,820.00. Following the completion of the transaction, the executive vice president now directly owns 58,941 shares of the company's stock, valued at approximately $5,304,690. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,308 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the transaction, the executive vice president now owns 54,109 shares of the company's stock, valued at $4,271,364.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,248 shares of company stock valued at $2,024,890. 1.75% of the stock is currently owned by corporate insiders.
