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.
Analysts Set New Price Targets
BMRN has been the topic of a number of analyst reports. Stifel Nicolaus reiterated a "buy" rating and set a $96.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 3rd. Jefferies Financial Group reissued a "buy" rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, May 4th. SVB Leerink raised their target price on BioMarin Pharmaceutical from $115.00 to $122.00 and gave the stock an "outperform" rating in a research note on Thursday. Robert W. Baird reissued an "outperform" rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, June 28th. Finally, StockNews.com cut BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a research note on Monday, August 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.40.
BioMarin Pharmaceutical Stock Up 3.1 %
NASDAQ:BMRN traded up $2.84 during trading on Friday, reaching $95.82. 2,364,912 shares of the company's stock were exchanged, compared to its average volume of 939,786. The stock has a market cap of $17.73 billion, a P/E ratio of 368.55, a price-to-earnings-growth ratio of 1.98 and a beta of 0.33. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.28 and a current ratio of 4.88. The company has a 50 day moving average price of $82.81 and a two-hundred day moving average price of $82.19. BioMarin Pharmaceutical has a 1 year low of $70.73 and a 1 year high of $96.50.
BioMarin Pharmaceutical (NASDAQ:BMRN - Get Rating) last posted its earnings results on Wednesday, August 3rd. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. BioMarin Pharmaceutical had a return on equity of 1.80% and a net margin of 2.83%. During the same period in the prior year, the company posted $0.23 earnings per share. On average, equities research analysts anticipate that BioMarin Pharmaceutical will post 0.98 EPS for the current fiscal year.
Insider Activity
In other news, CFO Brian Mueller sold 7,337 shares of the business's stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the completion of the sale, the chief financial officer now directly owns 30,726 shares of the company's stock, valued at approximately $2,749,977. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 1,308 shares of the company's stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $78.94, for a total transaction of $103,253.52. Following the completion of the sale, the executive vice president now directly owns 54,109 shares of the company's stock, valued at approximately $4,271,364.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Mueller sold 7,337 shares of the business's stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $89.50, for a total value of $656,661.50. Following the transaction, the chief financial officer now owns 30,726 shares in the company, valued at approximately $2,749,977. The disclosure for this sale can be found here. In the last three months, insiders sold 16,043 shares of company stock valued at $1,425,735. Insiders own 1.75% of the company's stock.
