Does Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) warrant a purchase right now? What to Consider Before Making a Decision

Biomarin Pharmaceutical Inc. (NASDAQ:BMRN) shares traded -2.09% lower at $83.72 on Wall Street last session.

In accordance with the data, 29 analysts cover Biomarin Pharmaceutical Inc. (NASDAQ:BMRN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $170.00 and a low of $78.00, we find $109.95. Given the previous closing price of $85.51, this indicates a potential upside of 28.58 percent. BMRN stock price is now -3.31% away from the 50-day moving average and -9.87% away from the 200-day moving average. The market capitalization of the company currently stands at $15.77B.

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It has been rated a hold by 10 analysts and a buy by 16. Brokers who have rated the stock have averaged $110.58 as their price target over the next twelve months.

With the price target maintained at $82, Bernstein recently Upgraded its rating from Underperform to Mkt Perform for Biomarin Pharmaceutical Inc. (NASDAQ: BMRN).

In other news, Ajer Jeffrey Robert, EVP, Chief Commercial Officer sold 5,000 shares of the company’s stock on Aug 16. The stock was sold for $450,000 at an average price of $90.00. Upon completion of the transaction, the EVP, Chief Commercial Officer now directly owns 60,804 shares in the company, valued at $5.09 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 10, President, Worldwide R&D FUCHS HENRY J sold 12,000 shares of the business’s stock. A total of $1,085,111 was realized by selling the stock at an average price of $90.43. This leaves the insider owning 176,187 shares of the company worth $14.75 million. Insiders disposed of 437,184 shares of company stock worth roughly $36.6 million over the past 1 year. A total of 1.87% of the company’s stock is owned by insiders.

Biomarin Pharmaceutical Inc. (NASDAQ: BMRN) opened at $85.65 on Thursday. During the past 12 months, Biomarin Pharmaceutical Inc. has had a low of $76.02 and a high of $117.77. As of last week, the company has a debt-to-equity ratio of 0.22, a current ratio of 2.54, and a quick ratio of 1.65. The fifty day moving average price for BMRN is $86.58 and a two-hundred day moving average price translates $92.89 for the stock.

The latest earnings results from Biomarin Pharmaceutical Inc. (NASDAQ: BMRN) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at $0.29, beating analysts’ expectations of $0.23 by 0.06. This compares to -$0.04 EPS in the same period last year. The net profit margin was 6.42% and return on equity was 3.11% for BMRN. The company reported revenue of $581.33 million for the quarter, compared to $505.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.04 percent. For the current quarter, analysts expect BMRN to generate $608.33M in revenue.

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