BioMarin Pharmaceutical’s (BMRN) “Buy” Rating Reiterated at Deutsche Bank AG

Deutsche Bank AG restated their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note issued to investors on Wednesday. Deutsche Bank AG currently has a $119.00 target price on the biotechnology company’s stock, up from their prior target price of $118.00.

Several other equities analysts have also recently issued reports on the company. Wedbush restated a neutral rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Stifel Nicolaus reiterated a buy rating and set a $107.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Cowen and Company reiterated a buy rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. UBS AG reiterated a neutral rating and set a $93.00 target price (up previously from $92.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, August 3rd. Finally, Sanford C. Bernstein started coverage on BioMarin Pharmaceutical in a research report on Thursday, July 27th. They set a market perform rating and a $89.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $110.20.

Shares of BioMarin Pharmaceutical (BMRN) traded up 0.54% during trading on Wednesday, reaching $82.40. The company’s stock had a trading volume of 1,226,111 shares. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $102.06. The firm’s market capitalization is $14.44 billion. The company has a 50 day moving average price of $89.00 and a 200 day moving average price of $89.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.61) EPS. On average, equities research analysts expect that BioMarin Pharmaceutical will post ($0.71) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://stocknewstimes.com/2017/08/12/biomarin-pharmaceuticals-bmrn-buy-rating-reiterated-at-deutsche-bank-ag.html.

In related news, EVP George Eric Davis sold 9,844 shares of the company’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 value of $950,930.40. Following the sale, the executive vice president now owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brian Mueller sold 2,671 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the sale, the senior vice president now directly owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,740 shares of company stock worth $5,659,589. 2.50% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after buying an additional 642,623 shares during the last quarter. Jennison Associates LLC raised its stake in 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 raised its stake in 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. State Street Corp raised its stake in BioMarin Pharmaceutical by 6.9% in the first quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock worth $351,249,000 after buying an additional 258,417 shares during the last quarter. Finally, Palo Alto Investors LLC raised its stake in BioMarin Pharmaceutical by 21.5% in the first quarter. Palo Alto Investors LLC now owns 2,382,619 shares of the biotechnology company’s stock worth $209,146,000 after buying an additional 422,400 shares during the last quarter. 96.82% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply