BioMarin Pharmaceutical (NASDAQ:BMRN) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $95.00 price objective on the biotechnology company’s stock.

Several other equities analysts also recently commented on the stock. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. TD Cowen lowered their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.20.

BioMarin Pharmaceutical Trading Down 3.3 %

BioMarin Pharmaceutical stock traded down $2.18 during mid-day trading on Friday, hitting $63.42. The company’s stock had a trading volume of 1,687,439 shares, compared to its average volume of 1,830,490. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 0.66 and a beta of 0.31. The business has a 50 day moving average price of $70.43 and a 200-day moving average price of $79.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 12 month low of $63.22 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The firm had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s revenue was up 28.4% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. As a group, analysts forecast that BioMarin Pharmaceutical will post 2.47 EPS for the current year.

Insider Buying and Selling

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the sale, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.85% of the stock is currently owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently bought and sold shares of the stock. Innealta Capital LLC bought a new stake in BioMarin Pharmaceutical during the second quarter valued at about $25,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical during the third quarter valued at about $28,000. BOKF NA bought a new stake in BioMarin Pharmaceutical during the second quarter valued at about $31,000. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical in the second quarter valued at about $47,000. Institutional investors own 98.71% of the company’s stock.

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.