BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at Wedbush boosted their FY2021 earnings per share estimates for shares of BioMarin Pharmaceutical in a research report issued to clients and investors on Tuesday, January 21st. Wedbush analyst L. Moussatos now expects that the biotechnology company will post earnings per share of $2.68 for the year, up from their prior estimate of $2.44. Wedbush has a “Buy” rating and a $158.00 price objective on the stock.
Other equities analysts have also issued reports about the company. Canaccord Genuity lowered their price target on BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Raymond James lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. TheStreet upgraded BioMarin Pharmaceutical from a “d+” rating to a “c-” rating in a research note on Thursday, December 26th. Citigroup restated a “buy” rating and set a $95.00 price target (down from $120.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $129.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $111.65.
Shares of BMRN opened at $86.15 on Friday. BioMarin Pharmaceutical has a 12-month low of $62.88 and a 12-month high of $100.13. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $15.48 billion, a price-to-earnings ratio of -331.35 and a beta of 1.32. The stock’s 50-day moving average price is $85.03 and its 200 day moving average price is $77.52.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.25. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The firm had revenue of $461.10 million for the quarter, compared to analyst estimates of $455.78 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY boosted its holdings in shares of BioMarin Pharmaceutical by 1.2% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,172 shares of the biotechnology company’s stock worth $888,000 after acquiring an additional 158 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 73.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 173 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of BioMarin Pharmaceutical by 3.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 7,466 shares of the biotechnology company’s stock worth $631,000 after acquiring an additional 241 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of BioMarin Pharmaceutical by 0.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 60,880 shares of the biotechnology company’s stock worth $4,103,000 after acquiring an additional 288 shares in the last quarter. Finally, Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $26,000. 95.91% of the stock is currently owned by institutional investors.
In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 3,190 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total transaction of $254,115.40. Following the sale, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at $5,473,358.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $77.60, for a total value of $776,000.00. Following the sale, the chief executive officer now directly owns 327,070 shares in the company, valued at $25,380,632. The disclosure for this sale can be found here. Insiders have sold 32,940 shares of company stock worth $2,730,495 over the last ninety days. Company insiders own 1.90% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
Featured Article: What is the Consumer Price Index (CPI)?
Receive News & Ratings for BioMarin Pharmaceutical Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com’s FREE daily email newsletter.
