The Vanguard Group, Inc. has recently announced that it has increased stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 1.56%. After grabbing 16.73 million shares, the institutional investor is now in possession of 0.26 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.00% having worth around $1.45 billion. Moreover, BlackRock Fund Advisors increased its share by 0.11 million to have a control over 9.88 million shares. And Viking Global Investors LP raised its holdings to 46571.0 shares by acquiring 5.1 million shares or 2.74% of the stake.
BioMarin Pharmaceutical Inc. (BMRN) concluded trading on 11/23/22 at a closing price of $97.79, with 4.64 million shares of worth about $453.29 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 23.89% during that period and on Wednesday the price saw a gain of about 7.25%. Currently the company’s common shares owned by public are about 185.60M shares, out of which, 184.48M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 23 analysts are covering the BMRN stock and their offered price forecasts bring an average price target of $114.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $162.00 and could fall to a lowest price of $74.00. The stock’s current price level is 14.26% above of average price target set by the analysts, while a rise to estimated low would result in loss of -32.15% for the stock. However, touching the estimated high of $162.00 would mean a gain of 39.64% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 110 times over the past 12 months. They bought 502,392 shares in 51 of the transactions. In 59 selling transactions, insiders dumped 382,196 shares.
Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in BioMarin Pharmaceutical Inc. Dodge & Cox Stock Fund is currently holding 9.01 million shares of worth totaling $780.12 million. The company recently came buying 18500.0 shares which brought its stake up to 4.85% of the company’s outstanding shares. Vanguard PRIMECAP Fund bought 29240.0 shares, after which its hold over company’s outstanding shares expand to 3.36%, leaving 6.25 million shares with the mutual fund that have a worth of about $541.14 million. Vanguard Total Stock Market Index, after buying 5.57 million shares, have now control over 3.00% of the stake in the company. It holds 40036.0 shares of worth $482.89 million.
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) started trading at $95.09, above $3.91 from concluding price of the previous day. However, the stock later moved at a day high price of 99.68, or with a gain of 7.25%. Stock saw a price change of 13.92% in past 5 days and over the past one month there was a price change of 6.91%. Year-to-date (YTD), BMRN shares are showing a performance of 10.68% which increased to 8.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $70.73 but also hit the highest price of $97.76 during that period. The average intraday trading volume for BioMarin Pharmaceutical Inc. shares is 1.22 million. The stock is currently trading 14.36% above its 20-day simple moving average (SMA20), while that difference is up 12.77% for SMA50 and it goes to 15.89% higher than SMA200.
The Vanguard Group, Inc. acquired 16.73 million shares of BioMarin Pharmaceutical Inc. having value of about $1.45 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.26 million shares in the company valued at close to $25120490.78, or have control over 1.56% stake in the company. Holding of mutual funds in the company is about 44.25% while other institutional holders and individual stake holders have control over 55.32% and 1.85% of the stake respectively.
The stock has a current market capitalization of $17.99B and its 3Y-monthly beta is at 0.33. PE ratio of stock for trailing 12 months is 247.57, while it has posted earnings per share of $0.40 in the same period. It has Quick Ratio of 3.50 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BMRN, volatility over the week remained 2.83% while standing at 2.98% over the month.
Analysts are in expectations that BioMarin Pharmaceutical Inc. (BMRN) stock would likely to be making an EPS of -$0.06 in the current quarter, while forecast for next quarter EPS is $0.23 and it is $1.63 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.19 which is $0.09 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 294.30% while it is estimated to increase by 140.63% in next year.
Analysts at 23 brokerage firms have issued recommendations for the BioMarin Pharmaceutical Inc. (BMRN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 23 Wall Street analysts, 16 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Oppenheimer on October 31, 2022 offering an Outperform rating for the stock and assigned a target price range of between $92 and $110 to it. Coverage by Cantor Fitzgerald stated BioMarin Pharmaceutical Inc. (BMRN) stock as an Overweight in their note to investors on July 13, 2022, suggesting a price target of $110 for the stock. On June 13, 2022, Wedbush Resumed their recommendations, while on April 25, 2022, Morgan Stanley Upgrade their ratings for the stock with a price target of $113. Stock get an Outperform rating from William Blair on November 22, 2021.