BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Forecast: Potential to Pass $187 in A Year

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) price closed higher on Tuesday, Dec 22, jumping 0.96% above its previous close.

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A look at the daily price movement shows that the previous day close read $87.51, with intraday deals fluctuating between $87.82 and $89.35. The company’s 5Y monthly beta was ticking 0.71 while its P/E ratio in the trailing 12-month period read 20.42. Taking into account the 52-week price action we note that the stock hit a 52-week high of $131.95 and 52-week low of $68.25. The stock added 16.33% on its value in the past month.

BioMarin Pharmaceutical Inc., which has a market valuation of $16.28 Billion as of writing, is expected to release its quarterly earnings report on Feb 24, 2021- Mar 01, 2021. The company stock has a Forward Dividend ratio of 0, while the dividend yield is 0. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking BMRN have forecast the quarterly EPS to grow by -$0.16 per share this quarter, while the same analysts predict the annual EPS to hit $4.25 for the year 2020 and up to $0.1 for 2021. In this case, analysts estimate an annual EPS growth of -33.69% for the year and -0.98% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $443.54 Million, with the likely lows of $411.17 Million and highs of $476.8 Million. The average estimate suggests sales growth for the quarter will likely fall by -2.4% when compared to those recorded in the quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $1.85 Billion for the company’s annual revenue in 2020. Per this projection, the revenue is forecast to grow +8.8% above that which the company brought in 2019.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews. On the technical perspective front, indicators give BMRN a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 25 analysts have assigned BMRN a recommendation rating as follows: 10 rate it as a Hold; 13 advise Buy while 2 analyst(s) assign an Outperform rating. None analyst(s) have tagged the BioMarin Pharmaceutical Inc. (BMRN) stock as Underperform, with none recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

If we dive deeper into the stock’s performance we see the positive picture represented by the PEG ratio, currently standing at 0.43. The overview shows that BMRN’s price is at present 8.76% off the SMA20 and 12.67% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 67.05, with weekly volatility standing at 4.52%. The indicator drops to 3.08% when calculated based on the past 30 days. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s beta value is holding at 0.71, while the average true range (ATR) indicator is presently reading 2.86. Considering analysts have assigned the stock a price target range of $80-$187 as the low and high respectively, we find the trailing 12-month average consensus price target to be $108.73. Based on this estimate, we see that current price is roughly -9.45% off the estimated low and 111.66% off the forecast high. Investors will no doubt be excited should the share price rise to $103.5, which is the median consensus price, and at which level BMRN would be +17.15% from current price.

Turning out attention to how the BioMarin Pharmaceutical Inc. stock has performed in comparison to its peers in the industry, here’s what we find: BMRN’s stock is +0.96% on the day and +2.73% in the past 12 months, while Bristol-Myers Squibb Company (BMY) is trading -0.94% in the latest session and is positioned -2.82% down on its price 12 months ago. Another comparison is with Amgen Inc (AMGN) whose stock price is down -2.78% in the current trading session, but has tanked -9.07% over the past year. Also, Gilead Sciences Inc (GILD) currently showed uptrend of 0.96% while its price kept floating at 2.73% over the past year. As for BioMarin Pharmaceutical Inc., the P/E ratio stands at 20.42 higher than that of Bristol-Myers Squibb Company’s at 0 and Amgen Inc’s 17.82. Elsewhere in the market, the S&P 500 Index has fell -0.21% in today’s early trading, with the Dow Jones Industrial also seeing a negative session so far with -0.67%.

An analysis of the BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) stock in terms of its daily trading volume indicates that the 3-month average is 1.51 Million. However, this figure increases on the past 10-day timeline to an average of 3.07 Million.

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Latest records show that the company has 181.53 Million in outstanding shares. According to data from Thomson Reuters, insiders’ percentage holdings are 0.61% of outstanding shares while the percentage share held by institutions stands at 100.35%. The stats also highlight that short interest as of November 29, 2020, stood at 11.87 Million shares, which puts the short ratio at the time at 8.59. From this we can glean that short interest is 6.54% of company’s current outstanding shares. Notably, we see that shares short in November rose slightly given the previous month’s figure stood at 11.68 Million. But the +4.49% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.


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