The Vanguard Group, Inc. recently announced the acquisition of new stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). The institutional investor has increased its shareholding in the Healthcare company by 1.48% to 16.98 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 9.14% valued currently at $1.69 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.46 million to 10.22 million shares. And Capital Research & Management Co has lifted its position by 14.47% or 0.71 million shares – to 5.65 million shares.
With over 1.96 million BioMarin Pharmaceutical Inc. (BMRN) shares trading Monday and a closing price of $90.02 on the day, the dollar volume was approximately $176.15 million. The shares have shown a negative half year performance of -3.13% and its price on 03/13/23 lost nearly -0.52%. Currently, there are 186.04M common shares owned by the public and among those 184.48M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for BMRN have a consensus price objective of $123.95. The analysts have set the share’s price value over the next 12 months at a high of $200.00 and a low of $74.00. The average price target is 27.1% above its recent price level and a downside to the estimated low will see the stock lose -21.65% over that period. But an upside of 54.99% will see the stock hit the forecast high price target while median target price for the stock is $120.00.
Insiders at the company have transacted a total of 108 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 452,382 shares. Insider sales of the common stock occurred on 62 occasions, with total insider shares sold totaling 408,158 shares.
The top 3 mutual fund holders in BioMarin Pharmaceutical Inc. are Dodge & Cox Stock Fund, Vanguard PRIMECAP Fund, and Vanguard Total Stock Market Index. Dodge & Cox Stock Fund owns 8.83 million shares of the company’s stock, all valued at over $879.86 million. The company sold -0.17 million shares recently to bring their total holdings to about 4.75% of the shares outstanding. Vanguard PRIMECAP Fund bought 0.13 million shares to see its total holdings expand to 6.37 million shares valued at over $634.85 million and representing 3.43% of the shares outstanding. Vanguard Total Stock Market Index bought 44913.0 shares to bring its total holdings to over 5.69 million shares at a value of $566.99 million. Vanguard Total Stock Market Index now owns shares totaling to 3.06% of the shares outstanding.
Shares of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) opened at $90.45, down -$0.04 from a prior closing price of $90.49. However, the script later moved the day high at 92.64, down -0.52%. The company’s stock has a 5-day price change of -4.54% and -13.77% over the past three months. BMRN shares are trading -13.02% year to date (YTD), with the 12-month market performance up to 15.57% higher. It has a 12-month low price of $70.73 and touched a high of $117.77 over the same period. BMRN has an average intraday trading volume of 1.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.57%, -15.98%, and -3.71% respectively.
Institutional ownership of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) 186.04M shares outstanding. Mutual fund holders own 42.08%, while other institutional holders and individual stakeholders account for 57.76% and 2.04% respectively.
It has a market capitalization of $17.26B and a beta (3y monthly) value of 0.40. The stock’s trailing 12-month PE ratio is 123.32, while the earnings-per-share (ttm) stands at $0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.89% over the week and 2.39% over the month.
Analysts forecast that BioMarin Pharmaceutical Inc. (BMRN) will achieve an EPS of -$0.07 for the current quarter, $0.24 for the next quarter and $1.63 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to increase by 301.40%, and 184.54% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate BioMarin Pharmaceutical Inc. (BMRN) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 8 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
Citigroup coverage for the BioMarin Pharmaceutical Inc. (BMRN) stock in a research note released on February 21, 2023 offered a Neutral rating with a price target of $116. BMO Capital Markets was of a view on January 30, 2023 that the stock is Market Perform, while Canaccord Genuity gave the stock Hold rating on January 18, 2023, issuing a price target of $119. Oppenheimer on their part issued Outperform rating on October 31, 2022.
