BioMarin Pharmaceutical (NASDAQ:BMRN) Now Covered by Wolfe Research

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

BMRN has been the topic of a number of other reports. Piper Sandler upped their price target on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. UBS Group lifted their price target on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Trading Down 3.3 %

NASDAQ BMRN traded down $2.18 during mid-day trading on Friday, reaching $63.42. 1,687,439 shares of the stock were exchanged, compared to its average volume of 1,830,490. The stock has a market cap of $12.09 billion, a P/E ratio of 37.98, a P/E/G ratio of 0.66 and a beta of 0.31. 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 one year low of $63.22 and a one year high of $99.56. The stock has a 50 day simple moving average of $70.43 and a 200-day simple moving average of $79.15.

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

Insider Activity at BioMarin Pharmaceutical

In other news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares in the company, valued at $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the second quarter worth $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the second quarter worth $31,000. Quent Capital LLC grew its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares in the last quarter. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth $28,000. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical in the second quarter worth $47,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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.