BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives Consensus Rating of “Buy” from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average recommendation of “Buy” by the twenty-one analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $111.63.

BMRN has been the subject of several recent research reports. Bank of America reaffirmed a “buy” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, December 11th. SunTrust Banks initiated coverage on shares of BioMarin Pharmaceutical in a report on Tuesday, November 12th. They set a “buy” rating and a $110.00 target price for the company. William Blair reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. TheStreet raised shares of BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a report on Thursday, December 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $129.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, December 16th.

In related news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $83.36, for a total value of $312,600.00. Following the sale, the director now owns 27,340 shares of the company’s stock, valued at approximately $2,279,062.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 3,000 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $84.46, for a total transaction of $253,380.00. Following the completion of the sale, the chief executive officer now directly owns 330,530 shares in the company, valued at approximately $27,916,563.80. The disclosure for this sale can be found here. Insiders sold a total of 29,940 shares of company stock worth $2,374,645 in the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $25,000. Doyle Wealth Management acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $26,000. Usca Ria LLC acquired a new stake in BioMarin Pharmaceutical during the 3rd quarter worth $26,000. Meeder Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 73.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 173 shares during the last quarter. Finally, Allred Capital Management LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $51,000. 95.51% of the stock is currently owned by hedge funds and other institutional investors.

BMRN traded up $0.30 during trading on Thursday, reaching $89.17. 529,502 shares of the company’s stock were exchanged, compared to its average volume of 1,135,269. BioMarin Pharmaceutical has a 1 year low of $62.88 and a 1 year high of $100.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53. The stock has a market capitalization of $15.99 billion, a P/E ratio of -270.20 and a beta of 1.32. The company’s fifty day simple moving average is $83.74 and its 200-day simple moving average is $77.36.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.25. The firm had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Equities analysts forecast that BioMarin Pharmaceutical will post 0.01 EPS for the current year.

About BioMarin Pharmaceutical

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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