BioMarin Pharmaceutical Inc. (BMRN) Receives Average Rating of “Buy” from Brokerages

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average recommendation of “Buy” by the twenty-three analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $116.25.

Several equities analysts recently issued reports on BMRN shares. BidaskClub lowered shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Cantor Fitzgerald restated a “buy” rating and issued a $126.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, January 7th. Wedbush restated an “outperform” rating and issued a $127.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 7th. Oppenheimer set a $92.00 target price on shares of BioMarin Pharmaceutical and gave the company a “hold” rating in a report on Tuesday, January 8th. Finally, Raymond James downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and set a $83.16 price target for the company. in a research note on Wednesday, January 2nd.

BMRN stock traded up $2.29 during midday trading on Tuesday, hitting $86.00. The stock had a trading volume of 1,210,232 shares, compared to its average volume of 997,128. The firm has a market cap of $14.93 billion, a price-to-earnings ratio of -260.61 and a beta of 1.51. The company has a quick ratio of 2.92, a current ratio of 3.93 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical has a 1-year low of $79.13 and a 1-year high of $106.74.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 21st. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. The business had revenue of $353.00 million for the quarter, compared to analyst estimates of $377.35 million. BioMarin Pharmaceutical had a negative net margin of 5.18% and a negative return on equity of 2.79%. BioMarin Pharmaceutical’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Research analysts expect that BioMarin Pharmaceutical will post 0.02 earnings per share for the current year.

In other news, CEO Jean Jacques Bienaime sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $95.20, for a total transaction of $380,800.00. Following the completion of the sale, the chief executive officer now directly owns 292,290 shares of the company’s stock, valued at $27,826,008. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director V Bryan Lawlis sold 2,150 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $89.76, for a total transaction of $192,984.00. Following the sale, the director now directly owns 21,310 shares of the company’s stock, valued at $1,912,785.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 94,011 shares of company stock valued at $8,588,208. Insiders own 1.90% of the company’s stock.

Several large investors have recently bought and sold shares of BMRN. Dimensional Fund Advisors LP increased its position in shares of BioMarin Pharmaceutical by 30.2% during the third quarter. Dimensional Fund Advisors LP now owns 288,770 shares of the biotechnology company’s stock worth $28,004,000 after acquiring an additional 66,986 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of BioMarin Pharmaceutical by 627.0% during the third quarter. Renaissance Technologies LLC now owns 206,971 shares of the biotechnology company’s stock worth $20,070,000 after acquiring an additional 178,500 shares in the last quarter. Paloma Partners Management Co increased its position in shares of BioMarin Pharmaceutical by 49.4% during the third quarter. Paloma Partners Management Co now owns 7,356 shares of the biotechnology company’s stock worth $713,000 after acquiring an additional 2,431 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of BioMarin Pharmaceutical by 62.4% during the third quarter. Pacer Advisors Inc. now owns 9,180 shares of the biotechnology company’s stock worth $890,000 after acquiring an additional 3,528 shares in the last quarter. Finally, Point72 Hong Kong Ltd increased its position 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 worth $102,000 after acquiring an additional 1,022 shares in the last quarter.

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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