BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $110.00 Price Target at Wells Fargo & Company

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective upped by Wells Fargo & Company from $100.00 to $110.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed an overweight rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Canaccord Genuity Group reaffirmed a hold rating and set a $91.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 29th. Royal Bank of Canada reaffirmed a sector perform rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Piper Sandler lowered 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. Finally, 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 report on Tuesday, January 30th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $107.50.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $80.91 on Thursday. The firm has a 50 day simple moving average of $87.58 and a 200-day simple moving average of $89.14. BioMarin Pharmaceutical has a 1-year low of $76.02 and a 1-year high of $99.56. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.51 and a quick ratio of 1.57. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 75.62, a price-to-earnings-growth ratio of 1.49 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The business had revenue of $646.21 million during the quarter, compared to analysts’ expectations of $639.53 million. During the same quarter in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts expect that BioMarin Pharmaceutical will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jean Jacques Bienaime sold 20,000 shares of the firm’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 sale, the director now directly owns 474,994 shares in the company, valued at approximately $43,347,952.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Erin Burkhart sold 2,286 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $90.00, for a total value of $205,740.00. Following the sale, the chief accounting officer now directly owns 16,156 shares in the company, valued at approximately $1,454,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the completion of the sale, the director now 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 worth $9,062,967 in the last ninety days. 1.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KB Financial Partners LLC raised its stake in 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 acquiring an additional 118 shares in the last quarter. Castleview Partners LLC acquired a new stake in BioMarin Pharmaceutical during the 3rd quarter worth $35,000. Lindbrook Capital LLC raised its stake 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 acquiring an additional 278 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in 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 acquiring an additional 249 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $43,000. 98.71% of the stock is currently 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.