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Weak Fundamental Momentum Drags BioMarin Pharmaceutical Inc. (BMRN) Upper

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has a beta value of 0.36 and has seen 0.59 million shares traded in the recent trading session. The company, currently valued at $20.86B, closed the recent trade at $115.78 per share which meant it gained $1.96 on the day or 1.72% during that session. The BMRN stock price is 0.85% off its 52-week high price of $114.80 and 38.91% above the 52-week low of $70.73. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.54 million shares traded. The 3-month trading volume is 1.59 million shares.

The consensus among analysts is that BioMarin Pharmaceutical Inc. (BMRN) is an Overweight stock at the moment, with a recommendation rating of 1.80. 0 analysts rate the stock as a Sell, while 4 rate it as Overweight. 4 out of 24 have rated it as a Hold, with 16 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.07.

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BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) trade information

Sporting 1.72% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the BMRN stock price touched $115.78 or saw a rise of 0.44%. Year-to-date, BioMarin Pharmaceutical Inc. shares have moved 9.98%, while the 5-day performance has seen it change 1.85%. Over the past 30 days, the shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have changed 8.79%. Short interest in the company has seen 10.36 million shares shorted with days to cover at 7.61.

Wall Street analysts have a consensus price target for the stock at $123.48, which means that the shares’ value could jump 6.24% from the levels at last check today. The projected low price target is $83.00 while the price target rests at a high of $200.00. In that case, then, we find that the latest price level in today’s session is -72.74% off the targeted high while a plunge would see the stock lose 28.31% from the levels at last check today.

BioMarin Pharmaceutical Inc. (BMRN) estimates and forecasts

Figures show that BioMarin Pharmaceutical Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 33.36% over the past 6 months, with this year growth rate of 47.37%, compared to 4.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 78.10% and -63.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 13.50%.

18 analysts offering their estimates for the company have set an average revenue estimate of $537.94 million for the current quarter. 13 have an estimated revenue figure of $587.13 million for the next quarter concluding in Mar 2023. Year-ago sales stood $449.81 million and $519.36 million respectively for this quarter and the next, and analysts expect sales will grow by 19.60% for the current quarter and 13.00% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 37.20% over the past 5 years.

BMRN Dividends

BioMarin Pharmaceutical Inc. is expected to release its next earnings report between February 21 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s Major holders

Insiders own 0.57% of the company shares, while shares held by institutions stand at 98.63% with a share float percentage of 99.20%. Investors are also buoyed by the number of investors in a company, with BioMarin Pharmaceutical Inc. having a total of 832 institutions that hold shares in the company. The top two institutional holders are Primecap Management Company with over 17.68 million shares worth more than $1.47 billion. As of Jun 29, 2022, Primecap Management Company held 9.53% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 16.84 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.4 billion and represent 9.08% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Dodge & Cox Stock Fund and Vanguard/Primecap Fund. As of Sep 29, 2022, the former fund manager holds about 4.86% shares in the company for having 9.01 million shares of worth $763.37 million while later fund manager owns 6.25 million shares of worth $517.65 million as of Jun 29, 2022, which makes it owner of about 3.37% of company’s outstanding stock.

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