BioMarin Pharmaceutical (BMRN) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a sell rating to a strong sell rating in a report issued on Tuesday.

BMRN has been the topic of several other reports. JPMorgan Chase decreased their price objective on shares of BioMarin Pharmaceutical from $131.00 to $129.00 and set an outperform rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reaffirmed a hold rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, February 27th. Credit Suisse Group reaffirmed an outperform rating and set a $113.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, January 18th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a hold rating to a buy rating and set a $101.00 price objective on the stock in a report on Tuesday, January 16th. Finally, Piper Jaffray reaffirmed a buy rating and set a $114.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical has an average rating of Buy and an average price target of $112.75.

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Shares of NASDAQ BMRN opened at $81.13 on Tuesday. BioMarin Pharmaceutical has a 1 year low of $75.81 and a 1 year high of $100.51. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29.



BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative return on equity of 3.18% and a negative net margin of 8.91%. The firm had revenue of $358.31 million for the quarter, compared to analysts’ expectations of $346.24 million. analysts expect that BioMarin Pharmaceutical will post -0.16 earnings per share for the current fiscal year.

In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the firm’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $83.65, for a total value of $836,500.00. Following the transaction, the chief executive officer now directly owns 300,031 shares of the company’s stock, valued at $25,097,593.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeffrey Robert Ajer sold 1,537 shares of the firm’s stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $79.69, for a total transaction of $122,483.53. Following the completion of the transaction, the executive vice president now directly owns 55,033 shares in the company, valued at $4,385,579.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,019 shares of company stock worth $8,456,252. Insiders own 1.85% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Manhattan Co. increased its position in BioMarin Pharmaceutical by 104.2% during the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 625 shares during the last quarter. Financial Gravity Companies Inc. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $112,000. Redmile Group LLC acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $223,000. Raymond James Financial Services Advisors Inc. acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $224,000. Finally, Gamco Investors INC. ET AL acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth about $232,000.

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About BioMarin Pharmaceutical

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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