StockNews.com Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) to Hold

StockNews.com cut shares of BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other equities analysts have also issued reports on the stock. Jefferies Financial Group reaffirmed a buy rating and issued a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Wedbush dropped their price objective on shares of BioMarin Pharmaceutical from $155.00 to $147.00 in a report on Thursday, April 28th. Stifel Nicolaus restated a buy rating and set a $96.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 3rd. Piper Sandler boosted their target price on shares of BioMarin Pharmaceutical from $121.00 to $125.00 and gave the company an overweight rating in a research report on Thursday, February 24th. Finally, Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an equal weight rating to an overweight rating and boosted their target price for the company from $96.00 to $113.00 in a research report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of Buy and an average price target of $111.93.

BMRN opened at $79.12 on Friday. The company has a current ratio of 4.88, a quick ratio of 3.28 and a debt-to-equity ratio of 0.25. The firm has a market cap of $14.64 billion, a P/E ratio of 439.56, a P/E/G ratio of 1.63 and a beta of 0.41. BioMarin Pharmaceutical has a 12 month low of $71.59 and a 12 month high of $94.20. The stock has a 50-day moving average of $80.31 and a 200 day moving average of $83.74.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The biotechnology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.16. The company had revenue of $519.36 million during the quarter, compared to the consensus estimate of $505.11 million. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, research analysts forecast that BioMarin Pharmaceutical will post 0.94 earnings per share for the current fiscal year.

In other news, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $84.14, for a total value of $841,400.00. Following the sale, the chief executive officer now owns 335,324 shares of the company’s stock, valued at $28,214,161.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Mueller sold 11,800 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $84.50, for a total transaction of $997,100.00. Following the completion of the sale, the chief financial officer now directly owns 38,639 shares in the company, valued at approximately $3,264,995.50. The disclosure for this sale can be found here. Insiders sold a total of 131,727 shares of company stock worth $10,786,429 over the last ninety days. Insiders own 1.75% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Walleye Capital LLC raised its position in shares of BioMarin Pharmaceutical by 906.1% in the first quarter. Walleye Capital LLC now owns 115,649 shares of the biotechnology company’s stock valued at $8,917,000 after buying an additional 104,154 shares during the last quarter. Virtu Financial LLC purchased a new stake in BioMarin Pharmaceutical in the first quarter valued at approximately $935,000. Beacon Pointe Advisors LLC grew its stake in BioMarin Pharmaceutical by 10.0% during the first quarter. Beacon Pointe Advisors LLC now owns 16,417 shares of the biotechnology company’s stock worth $1,266,000 after buying an additional 1,499 shares during the period. Point72 Hong Kong Ltd grew its stake in BioMarin Pharmaceutical by 54.6% during the first quarter. Point72 Hong Kong Ltd now owns 7,836 shares of the biotechnology company’s stock worth $604,000 after buying an additional 2,767 shares during the period. Finally, Polar Capital Holdings Plc grew its stake in BioMarin Pharmaceutical by 300.0% during the first quarter. Polar Capital Holdings Plc now owns 500,000 shares of the biotechnology company’s stock worth $38,550,000 after buying an additional 375,000 shares during the period. Institutional investors own 95.45% of the company’s stock.

About BioMarin Pharmaceutical (Get Rating)

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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