BioMarin Pharmaceutical (NASDAQ:BMRN) Sets New 12-Month Low – Here’s What Happened

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $60.65 and last traded at $61.22, with a volume of 118180 shares traded. The stock had previously closed at $61.58.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They set an “outperform” rating and a $95.00 target price for the company. Robert W. Baird decreased their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. UBS Group increased their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Finally, Citigroup cut their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The business has a fifty day moving average of $65.49 and a 200-day moving average of $74.39. The stock has a market capitalization of $11.73 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 0.59 and a beta of 0.29.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS 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 firm’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 earned $0.26 earnings per share. On average, equities analysts anticipate that BioMarin Pharmaceutical Inc. will post 2.5 earnings per share for the current fiscal year.

Insider Activity

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total transaction of $350,300.86. Following the sale, the executive vice president now owns 68,909 shares in the company, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in BMRN. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. TD Private Client Wealth LLC grew its position in BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $47,000. Meeder Asset Management Inc. lifted its position in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after buying an additional 663 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 281 shares during the period. Hedge funds and other 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.