BioMarin Pharmaceutical (NASDAQ:BMRN) Downgraded by StockNews.com

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Monday.

BMRN has been the subject of a number of other research reports. Scotiabank raised their price target on shares of BioMarin Pharmaceutical from $83.00 to $85.00 and gave the company a “sector perform” rating in a report on Thursday, April 25th. Canaccord Genuity Group reduced their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Morgan Stanley reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, April 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday. Finally, Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $113.00 price objective on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN traded up $1.22 during mid-day trading on Monday, hitting $85.31. 1,513,748 shares of the stock were exchanged, compared to its average volume of 1,910,710. The company has a market cap of $16.20 billion, a P/E ratio of 79.73, a PEG ratio of 1.20 and a beta of 0.32. The stock’s fifty day simple moving average is $81.25 and its two-hundred day simple moving average is $85.74. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.70 and a current ratio of 2.74. BioMarin Pharmaceutical has a twelve month low of $73.68 and a twelve month high of $99.56.

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

Insider Activity at BioMarin Pharmaceutical

In related news, EVP George Eric Davis sold 40,850 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total value of $3,043,733.50. Following the sale, the executive vice president now directly owns 56,157 shares of the company’s stock, valued at approximately $4,184,258.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other BioMarin Pharmaceutical news, CFO Brian Mueller sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $75.19, for a total value of $375,950.00. Following the sale, the chief financial officer now directly owns 72,159 shares in the company, valued at approximately $5,425,635.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Eric Davis sold 40,850 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $74.51, for a total transaction of $3,043,733.50. Following the completion of the sale, the executive vice president now owns 56,157 shares in the company, valued at $4,184,258.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,700 shares of company stock valued at $5,209,352. 1.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC increased its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares during the last quarter. Lindbrook Capital LLC increased its stake in BioMarin Pharmaceutical by 259.8% in the 4th quarter. Lindbrook Capital LLC now owns 385 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 278 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 249 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $43,000. Finally, First Horizon Advisors Inc. increased its stake in shares of BioMarin Pharmaceutical by 33.3% during the 4th quarter. First Horizon Advisors Inc. now owns 576 shares of the biotechnology company’s stock worth $56,000 after purchasing an additional 144 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

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.