For BioMarin Pharmaceutical Inc. [BMRN], Analyst sees a rise to $110. What next?

BioMarin Pharmaceutical Inc. [NASDAQ: BMRN] traded at a low on 10/27/22, posting a -6.92 loss after which it closed the day’ session at $85.73. The company report on October 26, 2022 that BioMarin Announces Third Quarter 2022 Year-over-Year Total Revenue Growth of 24% (31% Excluding KUVAN®).

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VOXZOGO® $48 Million Contribution in the Quarter Results in BioMarin Raising Full-year 2022 VOXZOGO Net Product Revenue Guidance to Between $140 Million and $170 Million.

U.S. Biologics Application for ROCTAVIAN™ Accepted by U.S. Food and Drug Administration (FDA); Prescription Drug User Fee Act (PDUFA) Target Action Date is March 31, 2023; Commercial Launch of ROCTAVIAN Underway in the European Union (EU) Following August 24, 2022 Approval.

The results of the trading session contributed to over 4290019 shares changing hands. Over the past one week, the price volatility of BioMarin Pharmaceutical Inc. stands at 3.08% while the volatility over the past one month is 2.77%.

The market cap for BMRN stock reached $15.67 billion, with 185.25 million shares outstanding and 184.23 million shares in the current float. Compared to the average trading volume of 1.08M shares, BMRN reached a trading volume of 4290019 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about BioMarin Pharmaceutical Inc. [BMRN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMRN shares is $113.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMRN stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for BioMarin Pharmaceutical Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price from $146 to $70. The new note on the price target was released on June 13, 2022, representing the official price target for BioMarin Pharmaceutical Inc. stock. Previously, the target price had yet another raise from $96 to $113, while Morgan Stanley kept a Overweight rating on BMRN stock.

The Average True Range (ATR) for BioMarin Pharmaceutical Inc. is set at 2.62, with the Price to Sales ratio for BMRN stock in the period of the last 12 months amounting to 8.20. The Price to Book ratio for the last quarter was 3.53, with the Price to Cash per share for the same quarter was set at 6.07. Price to Free Cash Flow for BMRN in the course of the last twelve months was 1004.41 with Quick ratio for the last quarter at 3.70.

How has BMRN stock performed recently?

BioMarin Pharmaceutical Inc. [BMRN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.35. With this latest performance, BMRN shares dropped by -0.13% in over the last four-week period, additionally plugging by 3.74% over the last 6 months – not to mention a rise of 19.53% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMRN stock in for the last two-week period is set at 42.48, with the RSI for the last a single of trading hit 38.21, and the three-weeks RSI is set at 44.74 for BioMarin Pharmaceutical Inc. [BMRN]. The present Moving Average for the last 50 days of trading for this stock 88.87, while it was recorded at 89.84 for the last single week of trading, and 84.54 for the last 200 days.

BioMarin Pharmaceutical Inc. [BMRN]: Deeper insight into the fundamentals

BioMarin Pharmaceutical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 5.40.

Insider trade positions for BioMarin Pharmaceutical Inc. [BMRN]

There are presently around $15,243 million, or 99.40% of BMRN stock, in the hands of institutional investors. The top three institutional holders of BMRN stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 17,678,485, which is approximately -0.568% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 16,844,836 shares of the stock with an approximate value of $1.44 billion in BMRN stocks shares; and DODGE & COX, currently with $1.29 billion in BMRN stock with ownership of nearly -0.186% of the company’s market capitalization.

Positions in BioMarin Pharmaceutical Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 257 institutional holders increased their position in BioMarin Pharmaceutical Inc. [NASDAQ:BMRN] by around 15,795,294 shares. Additionally, 257 investors decreased positions by around 13,696,467 shares, while 94 investors held positions by with 148,314,253 shares. The mentioned changes placed institutional holdings at 177,806,014 shares, according to the latest SEC report filing. BMRN stock had 59 new institutional investments in for a total of 3,606,169 shares, while 68 institutional investors sold positions of 1,543,425 shares during the same period.


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