BioMarin Pharmaceutical (NASDAQ:BMRN) Shares Down 3% – Should You Sell?

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) traded down 3% during trading on Wednesday . The stock traded as low as $61.78 and last traded at $61.88. 2,040,794 shares were traded during mid-day trading, an increase of 58% from the average session volume of 1,290,505 shares. The stock had previously closed at $63.81.

Wall Street Analyst Weigh In

BMRN has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Bank of America dropped their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company decreased their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.20.

BioMarin Pharmaceutical Price Performance

The company has a fifty day simple moving average of $65.80 and a 200 day simple moving average of $74.72. The stock has a market capitalization of $11.74 billion, a price-to-earnings ratio of 36.87, a P/E/G ratio of 0.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the business earned $0.26 earnings per share. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. Equities research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.49 EPS for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In related news, EVP Charles Greg Guyer sold 5,278 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $66.37, for a total transaction of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares of the company’s stock, valued at $4,573,490.33. This trade represents a 7.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the business. Primecap Management Co. CA boosted its position in shares of BioMarin Pharmaceutical by 0.4% during the 3rd quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after purchasing an additional 77,350 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in BioMarin Pharmaceutical by 4.4% in the second quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after buying an additional 192,416 shares during the period. Geode Capital Management LLC lifted its stake in BioMarin Pharmaceutical by 1.9% in the third quarter. Geode Capital Management LLC now owns 3,260,050 shares of the biotechnology company’s stock valued at $228,632,000 after buying an additional 60,692 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,401,628 shares of the biotechnology company’s stock worth $98,520,000 after buying an additional 55,699 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares during the period. 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.