Following The Money: Institution’s Growing Stake In Biomarin Pharmaceutical Inc. (NASDAQ: BMRN)

Biomarin Pharmaceutical Inc. (BMRN) concluded trading on Thursday at a closing price of $91.46, with 2.29 million shares of worth about $209.66 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 3.54% during that period and on April 11, 2024 the price saw a gain of about 1.39%. Currently the company’s common shares owned by public are about 188.60M shares, out of which, 184.85M shares are available for trading.

Stock saw a price change of 5.26% in past 5 days and over the past one month there was a price change of 7.37%. Year-to-date (YTD), BMRN shares are showing a performance of -5.14% which decreased to -6.52% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $76.02 but also hit the highest price of $100.38 during that period. The average intraday trading volume for Biomarin Pharmaceutical Inc. shares is 1.36 million. The stock is currently trading 5.90% above its 20-day simple moving average (SMA20), while that difference is up 4.70% for SMA50 and it goes to 2.81% higher than SMA200.

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Biomarin Pharmaceutical Inc. (NASDAQ: BMRN) currently have 188.60M outstanding shares and institutions hold larger chunk of about 99.18% of that.

The stock has a current market capitalization of $17.26B and its 3Y-monthly beta is at 0.31. PE ratio of stock for trailing 12 months is 104.98, while it has posted earnings per share of $0.87 in the same period. Its PEG reads 2.44 and has Quick Ratio of 1.57 while making debt-to-equity ratio of 0.23. 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 2.07% while standing at 1.76% over the month.

Analysts are in expectations that Biomarin Pharmaceutical Inc. (BMRN) stock would likely to be making an EPS of $0.34 in the current quarter, while forecast for next quarter EPS is $0.38 and it is $2.78 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.21 which is $0.49 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 $0.27 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 82.86% while it is estimated to increase by 68.07% in next year.

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 Wells Fargo on November 15, 2023 offering an Overweight rating for the stock and assigned a target price of $100 to it. Coverage by Bernstein stated Biomarin Pharmaceutical Inc. (BMRN) stock as a Mkt perform in their note to investors on October 23, 2023, suggesting a price target of $82 for the stock. On September 28, 2023, Raymond James Initiated their recommendations, while on September 18, 2023, UBS Initiated their ratings for the stock with a price target of $120. Stock get a Sector perform rating from Scotiabank on July 27, 2023.

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