BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to “Neutral” at Robert W. Baird

Robert W. Baird downgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRNFree Report) from an outperform rating to a neutral rating in a research note issued to investors on Friday, MarketBeat.com reports. Robert W. Baird currently has $72.00 price objective on the biotechnology company’s stock, down from their previous price objective of $104.00.

A number of other analysts have also commented on the stock. Cantor Fitzgerald restated an overweight rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, April 25th. Royal Bank of Canada reiterated a sector perform rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Piper Sandler cut their target price on BioMarin Pharmaceutical from $115.00 to $107.00 and set an overweight rating on the stock in a research report on Friday, February 23rd. Scotiabank increased their price target on BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a sector perform rating in a research report on Thursday, April 25th. Finally, Evercore ISI started coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday. They issued an outperform rating and a $113.00 target price for the company. Nine 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 currently has an average rating of Moderate Buy and a consensus target price of $106.11.

Get Our Latest Stock Analysis on BMRN

BioMarin Pharmaceutical Stock Up 0.8 %

NASDAQ BMRN traded up $0.59 on Friday, hitting $77.56. 3,433,447 shares of the company were exchanged, compared to its average volume of 1,970,463. The company has a current ratio of 2.74, a quick ratio of 1.70 and a debt-to-equity ratio of 0.12. The company has a market cap of $14.73 billion, a PE ratio of 72.49, a PEG ratio of 1.21 and a beta of 0.34. The stock has a fifty day moving average of $85.47 and a 200-day moving average of $88.81. BioMarin Pharmaceutical has a 12 month low of $76.02 and a 12 month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.12. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.34%. The company had revenue of $648.83 million for the quarter, compared to analysts’ expectations of $649.75 million. As a group, analysts forecast that BioMarin Pharmaceutical will post 1.99 earnings per share for the current year.

Insider Activity

In other news, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the transaction, the director now directly owns 474,994 shares in the company, valued at approximately $38,769,010.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $85.01, for a total value of $157,268.50. Following the completion of the sale, the executive vice president now owns 56,157 shares of the company’s stock, valued at $4,773,906.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jean Jacques Bienaime sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $81.62, for a total transaction of $1,632,400.00. Following the completion of the sale, the director now owns 474,994 shares of the company’s stock, valued at $38,769,010.28. The disclosure for this sale can be found here. Insiders sold 110,079 shares of company stock worth $9,528,436 in the last three months. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BMRN. Commonwealth Equity Services LLC grew its holdings in shares of BioMarin Pharmaceutical by 8.3% in the third quarter. Commonwealth Equity Services LLC now owns 7,413 shares of the biotechnology company’s stock worth $656,000 after purchasing an additional 568 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of BioMarin Pharmaceutical by 2.5% in the third quarter. CIBC Asset Management Inc now owns 6,479 shares of the biotechnology company’s stock worth $573,000 after buying an additional 155 shares during the period. Fifth Third Bancorp increased its stake in shares of BioMarin Pharmaceutical by 577.1% in the third quarter. Fifth Third Bancorp now owns 1,984 shares of the biotechnology company’s stock worth $176,000 after buying an additional 1,691 shares during the period. Panagora Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 46.1% in the third quarter. Panagora Asset Management Inc. now owns 25,245 shares of the biotechnology company’s stock worth $2,234,000 after buying an additional 7,967 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of BioMarin Pharmaceutical by 1.7% in the third quarter. Teacher Retirement System of Texas now owns 49,683 shares of the biotechnology company’s stock worth $4,396,000 after buying an additional 843 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

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