The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) increased by $0.5 on Friday to finish at $93.64, up 0.54 percent. The last five days have seen an average of 803,460 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$9.85. The average number of shares traded over the last 20 days was 1,114,565, while the average volume over the last 50 days totaled 1,316,886.
BMRN stock appreciated 8.18% since last month. On 08/01/23, the company’s shares reached a one-month low of $84.65. The stock touched a high of $117.77 on 01/27/23, after rallying from a low of $80.53 in 52 weeks. The price of BMRN stock has declined by -9.52% or -$9.85 this year, reaching a new high 12 times. Still, the stock price is down -20.49% from the 52-week high.
Insider Transactions
BMRN stock investors should be aware that BioMarin Pharmaceutical Inc. (BMRN) stock had its last reported insider trading activity 12 days ago on Aug 16. On Aug 16, EVP, Chief Commercial Officer Ajer Jeffrey Robert sold 5,000 shares at $90.00 each. This transaction resulted in the insider making $450,000. On Aug 10, FUCHS HENRY J sold 12,000 shares at a price of US$90.43. After the transaction, the insider now owns 176,187 shares. EVP, Chief Technical Officer Guyer Charles Greg had earlier sold 5,360 shares on Aug 09 for $93.30 a share. The transaction was completed for $500,109.
Valuation Metrics
BioMarin Pharmaceutical Inc. (BMRN) has a trailing price-to-earnings (P/E) ratio of 182.89. Beta for the stock is 0.34. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 7.84, the price-to-book (PB) ratio of 3.68, and the price-to-cash flow ratio of 428.52.
Financial Health
For the three months ended June 29, BioMarin Pharmaceutical Inc.’s quick ratio was 3.30, while its current ratio was 4.90, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.23, and the total debt to equity ratio is 0.23. As far as profitability goes, gross margin for the trailing twelve months is 77.70% percent. BioMarin Pharmaceutical Inc.’s EBITDA margin for the year ended June 29 was 5.48%, whereas its operating margin stood at 4.10% for the same period. Based on annual data, it had gross profit of $1.61 billion and revenue of $2.1 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BMRN’s return on assets (ROA) during the last 12 months has been 1.60%. There was a 2.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 2.10%.
Earnings Surprise
According to BioMarin Pharmaceutical Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $595.28 million, while revenues rose by 10.33% to $596.42 million. It was predicted that BioMarin Pharmaceutical Inc.’s quarterly earnings would be $0.29, but it ended up being $0.23, beating the consensus by 26.10%. EBITDA was $81.73 million for the quarter. At the end of BioMarin Pharmaceutical Inc.’s most recent quarter ended June 29, its liabilities totaled 1.78 billion, while its total debt was $1.09 billion. Equity owned by shareholders amounts to $188.18 million.
Technical Picture
Here’s a quick look at BioMarin Pharmaceutical Inc.’s (BMRN) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 70.88%, suggesting the stock is Overbought, with a 13.52% historical volatility rate.
The stochastic %K and %D were 78.51% and 63.31% respectively, while the average true range (ATR) was 1.78. Based on the 14-day stochastic reading of 93.06%, the RSI (14) reading is 64.78%. On the 9-day MACD Oscillator, the stock is at 1.80, and the 14-day reading is at 1.77.
Analyst Ratings
In its analyst report released on July 27, 2023, Scotiabank began covering BioMarin Pharmaceutical Inc. (NASDAQ: BMRN). The stock was rated as a Sector perform by the brokerage firm. Analysts have assigned BioMarin Pharmaceutical Inc. (BMRN) an Overweight rating. BMRN is a stock that is recommended for selling by 0 brokerage firms, while 8 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 3 rates it overweight and 15 others recommend it as a buy.
What is BMRN’s price target for the next 12 months?
The current consensus forecast for the stock is between $70.00 and $185.00, with a median target price of $112.00. In analyzing these forecasts, the average price target given by analysts for BioMarin Pharmaceutical Inc. (BMRN) is $116.52.
