BMO Capital Markets reaffirmed their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report sent to investors on Friday, September 15th.
Other equities research analysts also recently issued reports about the company. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued an overweight rating and a $113.00 price objective for the company. ValuEngine raised BioMarin Pharmaceutical from a sell rating to a hold rating in a report on Thursday, June 15th. Royal Bank Of Canada started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued a sector perform rating and a $93.00 price objective for the company. Zacks Investment Research raised BioMarin Pharmaceutical from a hold rating to a strong-buy rating and set a $105.00 price objective for the company in a report on Monday, July 17th. Finally, SunTrust Banks, Inc. reissued a buy rating and issued a $115.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $109.09.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 1.64% during trading on Friday, reaching $94.95. 1,210,939 shares of the company were exchanged. The stock’s 50 day moving average is $86.72 and its 200 day moving average is $89.48. The company’s market capitalization is $16.64 billion. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.61) earnings per share. Equities analysts anticipate that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current year.
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In related news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the sale, the director now owns 19,660 shares of the company’s stock, valued at $1,794,171.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the sale, the insider now directly owns 141,422 shares in the company, valued at approximately $12,798,691. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares during the last quarter. Global X Management Co. LLC boosted its stake in BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares during the last quarter. Korea Investment CORP boosted its stake in BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after buying an additional 940 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after buying an additional 344 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after buying an additional 243 shares during the last quarter. 97.46% of the stock is currently owned by hedge funds and other institutional investors.
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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