Wedbush reissued their neutral rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report report published on Monday. The firm currently has a $108.00 target price on the biotechnology company’s stock.
A number of other analysts have also weighed in on BMRN. Vetr lowered BioMarin Pharmaceutical from a strong-buy rating to a buy rating and set a $95.10 target price for the company. in a research note on Monday, April 10th. Cowen and Company restated an outperform rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. Credit Suisse Group restated an outperform rating and issued a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. BMO Capital Markets lowered their target price on BioMarin Pharmaceutical from $112.00 to $105.00 and set an outperform rating for the company in a research note on Monday, April 24th. Finally, Jefferies Group LLC restated a buy rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $110.20.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 4.00% during trading on Monday, reaching $85.49. 2,700,977 shares of the company were exchanged. The stock has a 50-day moving average of $90.43 and a 200 day moving average of $90.03. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.49. The stock’s market capitalization is $14.98 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. During the same period last year, the company posted ($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 anticipate that BioMarin Pharmaceutical will post ($0.68) earnings per share for the current fiscal year.
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In other news, EVP Jeffrey Robert Ajer sold 1,004 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total transaction of $89,968.44. Following the transaction, the executive vice president now owns 47,944 shares in the company, valued at approximately $4,296,261.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $267,100.00. Following the transaction, the senior vice president now owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders have sold a total of 61,740 shares of company stock worth $5,659,589 in the last quarter. 2.50% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New boosted its stake in BioMarin Pharmaceutical by 1.5% in the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 36 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in BioMarin Pharmaceutical by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock valued at $450,000 after buying an additional 50 shares during the last quarter. NGAM Advisors L.P. boosted its stake in BioMarin Pharmaceutical by 0.4% in the second quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after buying an additional 55 shares during the last quarter. Grandfield & Dodd LLC boosted its stake in BioMarin Pharmaceutical by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 5,727 shares of the biotechnology company’s stock valued at $503,000 after buying an additional 65 shares during the last quarter. Finally, First American Trust FSB boosted its stake in BioMarin Pharmaceutical by 0.3% in the second quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock valued at $2,424,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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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