BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $112.00 Price Target at Morgan Stanley

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price reduced by Morgan Stanley from $115.00 to $112.00 in a research report report published on Friday, Benzinga reports. Morgan Stanley currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on BMRN. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a hold rating for the company in a research note on Friday. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the stock a sector perform rating in a research report on Thursday. Citigroup reduced their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating on the stock in a report on Thursday. Robert W. Baird lowered their price target on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a report on Tuesday, January 30th. Finally, Wells Fargo & Company raised their price objective on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an overweight rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of Moderate Buy and a consensus price target of $107.50.

BioMarin Pharmaceutical Trading Down 1.5 %

BMRN opened at $80.91 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The firm has a market cap of $15.27 billion, a P/E ratio of 75.62, a P/E/G ratio of 1.51 and a beta of 0.31. BioMarin Pharmaceutical has a 52 week low of $76.02 and a 52 week high of $99.56. The business has a fifty day simple moving average of $87.58 and a 200-day simple moving average of $89.13.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. BioMarin Pharmaceutical’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. On average, equities analysts expect that BioMarin Pharmaceutical will post 1.85 earnings per share for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, insider Henry J. Fuchs sold 35,341 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares of the company’s stock, valued at $18,068,126.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $90.35, for a total transaction of $90,350.00. Following the completion of the transaction, the director now directly owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total value of $3,010,346.38. Following the completion of the sale, the insider now owns 212,117 shares in the company, valued at $18,068,126.06. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 103,229 shares of company stock worth $9,062,967. 1.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently made changes to their positions in the stock. Yousif Capital Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 198 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of BioMarin Pharmaceutical by 3.8% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,069 shares of the biotechnology company’s stock valued at $5,509,000 after acquiring an additional 2,300 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $258,000. IFM Investors Pty Ltd grew its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 1st quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock worth $3,348,000 after acquiring an additional 158 shares during the period. Finally, AMI Asset Management Corp increased its stake in BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after purchasing an additional 118,230 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

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.