BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Lowered to $91.00 at Citigroup

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price trimmed by Citigroup from $94.00 to $91.00 in a report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an outperform rating for the company in a research note on Tuesday, January 30th. Royal Bank of Canada reissued a sector perform rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Scotiabank increased their price target 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. Wells Fargo & Company increased their price target on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an overweight rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an overweight rating and set a $110.00 price target on shares of BioMarin Pharmaceutical 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 data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of Moderate Buy and a consensus price target of $107.89.

BioMarin Pharmaceutical Trading Down 9.9 %

NASDAQ BMRN opened at $82.17 on Thursday. The company’s 50-day moving average price is $87.74 and its 200-day moving average price is $89.18. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12. The stock has a market cap of $15.51 billion, a PE ratio of 76.80, a PEG ratio of 1.68 and a beta of 0.31. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data 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. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The company had revenue of $646.21 million during the quarter, compared to analyst estimates of $639.53 million. During the same period in the prior year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts forecast that BioMarin Pharmaceutical will post 1.85 earnings per share for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total transaction of $90,350.00. Following the sale, the director now owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $90.35, for a total transaction of $90,350.00. Following the sale, the director now owns 562,203 shares of the company’s stock, valued at approximately $50,795,041.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin Burkhart sold 2,286 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total transaction of $205,740.00. Following the completion of the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock valued at $9,062,967 in the last 90 days. 1.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in BioMarin Pharmaceutical by 3.8% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 63,069 shares of the biotechnology company’s stock valued at $5,509,000 after acquiring an additional 2,300 shares during the period. Simplicity Wealth LLC acquired a new stake in BioMarin Pharmaceutical during the 1st quarter worth $258,000. IFM Investors Pty Ltd boosted its stake in BioMarin Pharmaceutical by 0.4% during the 1st quarter. IFM Investors Pty Ltd now owns 38,328 shares of the biotechnology company’s stock worth $3,348,000 after purchasing an additional 158 shares during the last quarter. AMI Asset Management Corp boosted its stake in BioMarin Pharmaceutical by 51.9% during the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock worth $30,236,000 after purchasing an additional 118,230 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in BioMarin Pharmaceutical by 65.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 100,279 shares of the biotechnology company’s stock worth $8,758,000 after purchasing an additional 39,708 shares during the last quarter. 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.