BioMarin Pharmaceutical Inc. (BMRN) Receives $109.32 Average Target Price from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned an average rating of “Buy” from the twenty-six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $109.22.

BMRN has been the topic of several recent analyst reports. Goldman Sachs Group reiterated a “buy” rating and set a $129.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. JPMorgan Chase & Co. set a $130.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Sunday, October 29th. Stifel Nicolaus reduced their target price on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. BMO Capital Markets reiterated a “buy” rating and set a $117.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 20th. Finally, SunTrust Banks set a $115.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, October 19th.

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $90.32, for a total transaction of $903,200.00. Following the sale, the chief executive officer now directly owns 235,894 shares in the company, valued at approximately $21,305,946.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $89.23, for a total value of $1,338,450.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,750 shares of company stock worth $5,439,788. Company insiders own 1.85% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares during the period. Pictet Asset Management Ltd. grew its stake in BioMarin Pharmaceutical by 17.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after purchasing an additional 164,788 shares in the last quarter. Northern Trust Corp grew its stake in BioMarin Pharmaceutical by 2.9% during the 2nd quarter. Northern Trust Corp now owns 1,097,571 shares of the biotechnology company’s stock valued at $99,682,000 after purchasing an additional 31,113 shares in the last quarter. TCW Group Inc. grew its stake in BioMarin Pharmaceutical by 20.1% during the 3rd quarter. TCW Group Inc. now owns 1,072,969 shares of the biotechnology company’s stock valued at $99,862,000 after purchasing an additional 179,879 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in BioMarin Pharmaceutical by 9.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 828,666 shares of the biotechnology company’s stock valued at $73,892,000 after purchasing an additional 72,120 shares in the last quarter. Institutional investors and hedge funds own 99.02% of the company’s stock.

BioMarin Pharmaceutical (BMRN) traded up $1.04 during midday trading on Friday, reaching $91.60. The company had a trading volume of 822,492 shares, compared to its average volume of 1,250,000. BioMarin Pharmaceutical has a 1 year low of $80.10 and a 1 year high of $100.51. The stock has a market capitalization of $16,270.00, a P/E ratio of -110.36 and a beta of 1.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts predict that BioMarin Pharmaceutical will post -0.63 EPS for the current fiscal year.

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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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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