Deutsche Bank AG restated their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note issued to investors on Thursday. The brokerage currently has a $119.00 target price on the biotechnology company’s stock, up from their previous target price of $118.00.
A number of other brokerages have also recently commented on BMRN. Cowen and Company restated a buy rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, April 24th. Jefferies Group LLC restated a buy rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a hold rating to a buy rating and set a $107.00 price objective on the stock in a research note on Monday, May 1st. J P Morgan Chase & Co restated a buy rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Finally, Credit Suisse Group restated a buy rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of Hold and an average target price of $110.48.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.20% during trading on Thursday, reaching $89.70. The company had a trading volume of 897,663 shares. The company’s market capitalization is $15.72 billion. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $102.49. The firm’s 50 day moving average is $90.43 and its 200-day moving average is $90.03.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.81% and a negative net margin of 15.54%. The firm had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. During the same quarter in the previous year, the business earned ($2.61) earnings per share. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current year.
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In other news, EVP George Eric Davis sold 9,844 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the sale, the executive vice president now owns 93,425 shares in the company, valued at approximately $9,024,855. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 1,004 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $89.61, for a total value of $89,968.44. Following the sale, the executive vice president now owns 47,944 shares of the company’s stock, valued at approximately $4,296,261.84. The disclosure for this sale can be found here. Insiders have sold a total of 79,222 shares of company stock valued at $7,307,860 in the last quarter. Insiders own 2.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Crossvault Capital Management LLC raised its stake in BioMarin Pharmaceutical by 1.8% in the first quarter. Crossvault Capital Management LLC now owns 20,960 shares of the biotechnology company’s stock worth $1,840,000 after buying an additional 365 shares during the last quarter. Howard Hughes Medical Institute raised its stake in BioMarin Pharmaceutical by 175.0% in the first quarter. Howard Hughes Medical Institute now owns 2,280 shares of the biotechnology company’s stock worth $200,000 after buying an additional 1,451 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in BioMarin Pharmaceutical by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,587 shares of the biotechnology company’s stock worth $376,000 after buying an additional 166 shares during the last quarter. Nationwide Fund Advisors raised its stake in BioMarin Pharmaceutical by 3.4% in the first quarter. Nationwide Fund Advisors now owns 30,800 shares of the biotechnology company’s stock worth $2,704,000 after buying an additional 1,000 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in BioMarin Pharmaceutical during the first quarter worth about $298,000. Institutional investors own 96.77% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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