BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target raised by Citigroup to $108.00 in a research report report published on Tuesday. The firm currently has a buy rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price objective on BioMarin Pharmaceutical from $105.00 to $102.00 and set a buy rating for the company in a report on Friday, February 23rd. Deutsche Bank set a $124.00 price objective on BioMarin Pharmaceutical and gave the stock a buy rating in a report on Friday, February 23rd. JPMorgan Chase & Co. reiterated a buy rating on shares of BioMarin Pharmaceutical in a report on Sunday, February 25th. Credit Suisse Group reiterated a buy rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a report on Sunday, February 25th. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a hold rating to a buy rating and set a $92.00 price objective for the company in a report on Tuesday, April 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of Buy and an average price target of $112.50.

Shares of BMRN stock opened at $90.34 on Tuesday. BioMarin Pharmaceutical has a 1-year low of $75.81 and a 1-year high of $100.03. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.90 and a quick ratio of 2.29. The stock has a market cap of $16.00 billion, a P/E ratio of -134.84 and a beta of 1.68.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, April 25th. The biotechnology company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.08). BioMarin Pharmaceutical had a negative return on equity of 3.01% and a negative net margin of 10.48%. The business had revenue of $373.45 million during the quarter, compared to analysts’ expectations of $348.73 million. During the same quarter last year, the business posted $0.20 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. equities research analysts expect that BioMarin Pharmaceutical will post -0.12 EPS for the current fiscal year.

In other news, EVP George Eric Davis sold 2,105 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $79.04, for a total value of $166,379.20. Following the completion of the transaction, the executive vice president now owns 90,089 shares of the company’s stock, valued at approximately $7,120,634.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Mueller sold 2,450 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $89.50, for a total value of $219,275.00. Following the completion of the transaction, the senior vice president now directly owns 17,846 shares of the company’s stock, valued at approximately $1,597,217. The disclosure for this sale can be found here. Insiders sold a total of 167,837 shares of company stock valued at $14,341,460 in the last three months. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Palo Alto Investors LP increased its position in BioMarin Pharmaceutical by 1.9% during the 1st quarter. Palo Alto Investors LP now owns 2,545,482 shares of the biotechnology company’s stock valued at $206,362,000 after buying an additional 47,676 shares in the last quarter. Palo Alto Investors LLC increased its position in BioMarin Pharmaceutical by 2.4% during the 4th quarter. Palo Alto Investors LLC now owns 2,497,806 shares of the biotechnology company’s stock valued at $222,729,000 after buying an additional 59,287 shares in the last quarter. Geode Capital Management LLC increased its position in BioMarin Pharmaceutical by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,446,179 shares of the biotechnology company’s stock valued at $128,882,000 after buying an additional 19,011 shares in the last quarter. USS Investment Management Ltd increased its position in BioMarin Pharmaceutical by 22.9% during the 1st quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock valued at $111,869,000 after buying an additional 249,738 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in BioMarin Pharmaceutical by 581.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,224,776 shares of the biotechnology company’s stock valued at $99,293,000 after buying an additional 1,044,921 shares in the last quarter.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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