BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Reiterated by Cantor Fitzgerald

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $110.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 30.29% from the company’s previous close.

BMRN has been the topic of a number of other research reports. Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Evercore ISI began coverage on BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective for the company. Wells Fargo & Company lifted their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Citigroup dropped their price target on BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Canaccord Genuity Group reduced their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

BioMarin Pharmaceutical Stock Down 1.0 %

NASDAQ BMRN opened at $84.43 on Monday. BioMarin Pharmaceutical has a 52 week low of $73.68 and a 52 week high of $99.56. 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 company has a market capitalization of $16.03 billion, a P/E ratio of 78.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32. The stock’s 50-day moving average price is $81.35 and its 200-day moving average price is $85.65.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. The company 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%. On average, equities research analysts predict that BioMarin Pharmaceutical will post 1.99 earnings per share for the current year.

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, Director Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jean Jacques Bienaime sold 20,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 474,994 shares of the company’s stock, valued at approximately $38,769,010.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Mueller sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the sale, the chief financial officer now directly owns 72,159 shares of the company’s stock, valued at approximately $5,425,635.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,700 shares of company stock worth $5,209,352. Company insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of the business. Quent Capital LLC boosted its stake in shares of 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. Lindbrook Capital LLC lifted its holdings in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 249 shares during the period. Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $43,000. Finally, First Horizon Advisors Inc. grew its stake in BioMarin Pharmaceutical by 33.3% in the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

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.