Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned a consensus rating of “Buy” from the twenty-five brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $114.56.
A number of analysts have recently issued reports on the stock. ValuEngine raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Wedbush set a $120.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, September 13th. Raymond James increased their price target on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a report on Friday, October 26th. Cantor Fitzgerald set a $126.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, October 26th. Finally, Canaccord Genuity increased their price objective on shares of BioMarin Pharmaceutical from $113.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday, October 23rd.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $87.58, for a total value of $262,740.00. Following the transaction, the chief executive officer now directly owns 291,290 shares of the company’s stock, valued at approximately $25,511,178.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $92.15, for a total value of $829,350.00. Following the sale, the executive vice president now directly owns 58,135 shares in the company, valued at $5,357,140.25. The disclosure for this sale can be found here. In the last three months, insiders sold 32,150 shares of company stock valued at $2,837,490. 1.90% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Point72 Hong Kong Ltd lifted its holdings in shares of BioMarin Pharmaceutical by 3,524.1% during the third quarter. Point72 Hong Kong Ltd now owns 1,051 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 1,022 shares during the last quarter. Huntington National Bank acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $105,000. BDO Wealth Advisors LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $127,000. NuWave Investment Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 42,975.0% during the 3rd quarter. NuWave Investment Management LLC now owns 1,723 shares of the biotechnology company’s stock valued at $167,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at approximately $204,000.
Shares of BioMarin Pharmaceutical stock traded up $0.36 on Friday, hitting $94.30. The stock had a trading volume of 15,828 shares, compared to its average volume of 979,312. BioMarin Pharmaceutical has a twelve month low of $75.81 and a twelve month high of $106.74. The company has a current ratio of 2.87, a quick ratio of 2.26 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of -140.31 and a beta of 1.57.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative return on equity of 2.98% and a negative net margin of 8.35%. The firm had revenue of $391.71 million during the quarter, compared to analysts’ expectations of $369.43 million. As a group, equities research analysts predict that BioMarin Pharmaceutical will post -0.13 earnings per share for the current fiscal year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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