Oppenheimer slashes price target on BioMarin Pharmaceutical Inc. [BMRN] – find out why.

BioMarin Pharmaceutical Inc. [NASDAQ: BMRN] traded at a high on 11/23/22, posting a 7.25 gain after which it closed the day’ session at $97.79. The company report on November 23, 2022 that BioMarin Announces Advancements in FDA Review of ROCTAVIAN™ (Valoctocogene Roxaparvovec) for Adults with Severe Hemophilia A.

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FDA No Longer Plans to Hold an Advisory Committee Meeting, as Previously Planned, to Discuss the Biologics License Application (BLA).

BioMarin Remains on Track to Host Scheduled Manufacturing Inspections by FDA in the Coming Weeks.

The results of the trading session contributed to over 4635375 shares changing hands. Over the past one week, the price volatility of BioMarin Pharmaceutical Inc. stands at 2.83% while the volatility over the past one month is 2.98%.

The market cap for BMRN stock reached $17.99 billion, with 185.60 million shares outstanding and 184.48 million shares in the current float. Compared to the average trading volume of 1.22M shares, BMRN reached a trading volume of 4635375 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 $114.05 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.

Oppenheimer have made an estimate for BioMarin Pharmaceutical Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on July 13, 2022, representing the official price target for BioMarin Pharmaceutical Inc. stock. Previously, the target price had yet another drop from $146 to $70, while Wedbush kept a Neutral rating on BMRN stock. On April 25, 2022, analysts increased their price target for BMRN shares from 96 to 113.

The Average True Range (ATR) for BioMarin Pharmaceutical Inc. is set at 2.90, with the Price to Sales ratio for BMRN stock in the period of the last 12 months amounting to 8.96. The Price to Book ratio for the last quarter was 3.97, with the Price to Cash per share for the same quarter was set at 6.92. Price to Free Cash Flow for BMRN in the course of the last twelve months was 271.39 with Quick ratio for the last quarter at 3.50.

How has BMRN stock performed recently?

BioMarin Pharmaceutical Inc. [BMRN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.92. With this latest performance, BMRN shares gained by 6.91% in over the last four-week period, additionally plugging by 23.89% over the last 6 months – not to mention a rise of 8.91% 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 73.72, with the RSI for the last a single of trading hit 82.75, and the three-weeks RSI is set at 67.54 for BioMarin Pharmaceutical Inc. [BMRN]. The present Moving Average for the last 50 days of trading for this stock 86.93, while it was recorded at 90.64 for the last single week of trading, and 84.43 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and BioMarin Pharmaceutical Inc. [BMRN] shares currently have an operating margin of -3.86 and a Gross Margin at +71.16. BioMarin Pharmaceutical Inc.’s Net Margin is presently recorded at -3.47.

Return on Equity for this stock declined to -1.53, with Return on Assets sitting at -1.08.

BioMarin Pharmaceutical Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 5.10.

Insider trade positions for BioMarin Pharmaceutical Inc. [BMRN]

There are presently around $17,759 million, in the hands of institutional investors. The top three institutional holders of BMRN stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 17,625,505, which is approximately -0.3% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 17,108,289 shares of the stock with an approximate value of $1.67 billion in BMRN stocks shares; and DODGE & COX, currently with $1.44 billion in BMRN stock with ownership of nearly -1.553% 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 280 institutional holders increased their position in BioMarin Pharmaceutical Inc. [NASDAQ:BMRN] by around 12,359,183 shares. Additionally, 232 investors decreased positions by around 8,635,886 shares, while 95 investors held positions by with 160,611,817 shares. The mentioned changes placed institutional holdings at 181,606,886 shares, according to the latest SEC report filing. BMRN stock had 63 new institutional investments in for a total of 1,314,651 shares, while 52 institutional investors sold positions of 866,049 shares during the same period.


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