BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to “Hold” at Baird R W

Baird R W lowered shares of BioMarin Pharmaceutical (NASDAQ:BMRNFree Report) from a strong-buy rating to a hold rating in a research report released on Friday morning, Zacks.com reports.

BMRN has been the subject of several other research reports. Scotiabank raised their price objective on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a sector perform rating in a research report on Thursday, April 25th. Cantor Fitzgerald reiterated an overweight rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, April 25th. Piper Sandler decreased their target price on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating for the company in a report on Friday, February 23rd. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a hold rating for the company in a report on Friday, April 26th. Finally, Citigroup decreased their target price on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating for the company in a report on Thursday, April 25th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of Moderate Buy and a consensus target price of $106.11.

Check Out Our Latest Stock Report on BMRN

BioMarin Pharmaceutical Stock Down 0.7 %

BMRN stock opened at $77.05 on Friday. The stock has a market cap of $14.63 billion, a PE ratio of 72.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.34. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $85.29 and its 200 day simple moving average is $88.88. BioMarin Pharmaceutical has a fifty-two week low of $76.02 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.37 by $0.12. The firm had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 1.99 EPS for the current year.

Insider Activity

In other news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the transaction, the director now owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total value of $1,632,400.00. Following the transaction, the director now owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP George Eric Davis sold 1,850 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the transaction, the executive vice president now directly owns 56,157 shares in the company, valued at approximately $4,773,906.57. The disclosure for this sale can be found here. Insiders have sold a total of 110,079 shares of company stock valued at $9,528,436 over the last 90 days. 1.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of BMRN. Commonwealth Equity Services LLC grew its stake in shares of BioMarin Pharmaceutical by 8.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,413 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 568 shares during the last quarter. CIBC Asset Management Inc boosted its stake in BioMarin Pharmaceutical by 2.5% during the third quarter. CIBC Asset Management Inc now owns 6,479 shares of the biotechnology company’s stock worth $573,000 after buying an additional 155 shares in the last quarter. Fifth Third Bancorp boosted its stake in BioMarin Pharmaceutical by 577.1% during the third quarter. Fifth Third Bancorp now owns 1,984 shares of the biotechnology company’s stock worth $176,000 after buying an additional 1,691 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of BioMarin Pharmaceutical by 46.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 25,245 shares of the biotechnology company’s stock valued at $2,234,000 after purchasing an additional 7,967 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of BioMarin Pharmaceutical by 1.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 49,683 shares of the biotechnology company’s stock valued at $4,396,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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