BioMarin Pharmaceutical (NASDAQ:BMRN) Cut to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRNFree Report) from an outperform rating to a neutral rating in a report released on Friday morning, MarketBeat.com reports. They currently have $72.00 price objective on the biotechnology company’s stock, down from their prior price objective of $104.00.

Several other research analysts have also recently issued reports on BMRN. Scotiabank upped their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a sector perform rating in a report on Thursday, April 25th. Evercore ISI began coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an outperform rating and a $113.00 price target on the stock. Wells Fargo & Company upped their price target on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an overweight rating in a report on Thursday, April 25th. Citigroup dropped their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a neutral rating on the stock in a report on Thursday, April 25th. Finally, Piper Sandler dropped their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating on the stock in a report on Friday, February 23rd. Nine equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $106.11.

View Our Latest Research Report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN opened at $77.05 on Friday. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $85.29 and a 200-day simple moving average of $88.88. The company has a market cap of $14.63 billion, a PE ratio of 72.01, a P/E/G ratio of 1.22 and a beta of 0.34. BioMarin Pharmaceutical has a 12-month low of $76.02 and a 12-month 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The firm had revenue of $648.83 million during the quarter, compared to the consensus estimate of $649.75 million. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 1.99 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the transaction, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Henry J. Fuchs sold 35,341 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 212,117 shares of the company’s stock, valued at approximately $18,068,126.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jean Jacques Bienaime sold 1,000 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $85.51, for a total transaction of $85,510.00. Following the sale, the director now directly owns 561,203 shares of the company’s stock, valued at approximately $47,988,468.53. The disclosure for this sale can be found here. Insiders have sold 110,079 shares of company stock worth $9,528,436 in the last ninety days. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Partners LTD. raised its position in shares of BioMarin Pharmaceutical by 2.1% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,709 shares of the biotechnology company’s stock valued at $550,000 after buying an additional 115 shares in the last quarter. KB Financial Partners LLC increased its position in BioMarin Pharmaceutical by 51.3% during the 3rd quarter. KB Financial Partners LLC now owns 348 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares in the last quarter. First Horizon Advisors Inc. increased its position in BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares in the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in BioMarin Pharmaceutical by 1.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,729 shares of the biotechnology company’s stock worth $938,000 after purchasing an additional 153 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

(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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