StockNews.com Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) to Hold

StockNews.com downgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a hold rating in a research note issued to investors on Monday.

Other equities research analysts have also issued reports about the stock. Cantor Fitzgerald restated an overweight rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday. Baird R W downgraded BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a report on Friday, May 17th. Evercore ISI assumed coverage on BioMarin Pharmaceutical in a report on Tuesday, May 14th. They issued an outperform rating and a $113.00 price objective on the stock. Citigroup decreased their target price 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, Wells Fargo & Company upped their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a report on Thursday, June 27th. Ten 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.com, the stock presently has an average rating of Moderate Buy and an average target price of $102.00.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $85.59 on Monday. The business’s 50-day moving average is $81.61 and its two-hundred day moving average is $85.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.74 and a quick ratio of 1.70. The firm has a market capitalization of $16.25 billion, a P/E ratio of 79.99, a P/E/G ratio of 1.20 and a beta of 0.32. BioMarin Pharmaceutical has a 1 year low of $73.68 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The firm had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. Analysts anticipate that BioMarin Pharmaceutical will post 2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian Mueller sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value 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 $5,425,635.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP George Eric Davis sold 1,850 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $157,268.50. Following the completion of the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Mueller sold 5,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total transaction of $375,950.00. Following the completion of the transaction, the chief financial officer now directly owns 72,159 shares in the company, valued at $5,425,635.21. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,700 shares of company stock valued at $5,209,352. Insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in BMRN. Quent Capital LLC increased 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 worth $32,000 after acquiring an additional 145 shares during the period. Lindbrook Capital LLC increased its position in BioMarin Pharmaceutical by 259.8% during the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 278 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after buying an additional 249 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $43,000. Finally, First Horizon Advisors Inc. grew its holdings in BioMarin Pharmaceutical by 33.3% during the fourth quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds 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.