BioMarin Pharmaceutical (NASDAQ:BMRN) Shares Gap Down to $91.20

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) gapped down prior to trading on Thursday . The stock had previously closed at $91.20, but opened at $86.26. BioMarin Pharmaceutical shares last traded at $83.20, with a volume of 2,455,810 shares traded.

Analyst Upgrades and Downgrades

BMRN has been the subject of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler dropped their price objective on shares of BioMarin Pharmaceutical from $115.00 to $107.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Canaccord Genuity Group restated a “hold” rating and issued a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Scotiabank upped their target price on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Wells Fargo & Company upped their target price on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $108.17.

BioMarin Pharmaceutical Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.57 and a current ratio of 2.51. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 92.36, a price-to-earnings-growth ratio of 1.70 and a beta of 0.31. The business has a fifty day moving average of $87.86 and a two-hundred day moving average of $89.23.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.01% and a net margin of 6.93%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. As a group, research analysts predict that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 2,286 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $90.00, for a total value of $205,740.00. Following the transaction, the chief accounting officer now directly owns 16,156 shares of the company’s stock, valued at approximately $1,454,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total value of $1,825,200.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at $43,347,952.44. The disclosure for this sale can be found here. Insiders have sold a total of 103,229 shares of company stock valued at $9,062,967 in the last ninety days. 1.84% of the stock is currently owned by corporate insiders.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. KB Financial Partners LLC grew its holdings in shares of 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. Castleview Partners LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth $35,000. Lindbrook Capital LLC lifted its position in shares of 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 buying an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position 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 during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth $43,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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.