BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reaffirmed by research analysts at Cowen and Company in a report issued on Friday.
BMRN has been the subject of several other reports. Jefferies Group LLC reissued a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, April 26th. Vetr lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target for the company. in a research report on Monday, April 10th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Monday, May 1st. Credit Suisse Group reissued an “outperform” rating and set a $112.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 18th. Finally, BMO Capital Markets decreased their price target on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $110.20.
BioMarin Pharmaceutical (NASDAQ BMRN) traded up 0.20% during mid-day trading on Friday, reaching $89.70. 897,663 shares of the company’s stock were exchanged. The firm’s market capitalization is $15.72 billion. BioMarin Pharmaceutical has a one year low of $78.42 and a one year high of $102.49. The company’s 50-day moving average is $90.43 and its 200 day moving average is $90.03.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($2.61) earnings per share. Equities analysts predict that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.
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In other news, EVP Jeffrey Robert Ajer sold 1,004 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $89.61, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 93,425 shares in the company, valued at approximately $9,024,855. The disclosure for this sale can be found here. Insiders have sold a total of 79,222 shares of company stock worth $7,307,860 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.
Several large investors have recently modified their holdings of BMRN. Jennison Associates LLC boosted its stake in shares of BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after buying an additional 3,348,168 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after buying an additional 826,320 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock worth $1,202,796,000 after buying an additional 495,118 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth approximately $37,416,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.
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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