BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Lowered to “Sell” at BidaskClub

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday, July 24th.

A number of other equities analysts also recently issued reports on BMRN. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research note on Monday, May 1st. Vetr downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target for the company. in a research note on Monday, April 10th. UBS AG began coverage on BioMarin Pharmaceutical in a research note on Wednesday, March 29th. They issued a “neutral” rating and a $92.00 target price on the stock. Credit Suisse Group restated a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. BioMarin Pharmaceutical has a consensus rating of “Hold” and an average target price of $109.73.

BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 80.92 on Monday. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $102.06. The company’s 50-day moving average price is $87.59 and its 200 day moving average price is $89.88. The company’s market capitalization is $14.18 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. During the same period in the previous year, the company posted ($2.61) EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that BioMarin Pharmaceutical will post ($0.72) EPS for the current year.

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In related news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the completion of the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at $12,727,980. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP George Eric Davis sold 9,844 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the transaction, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 56,740 shares of company stock valued at $5,200,939. 2.50% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in BMRN. Rice Hall James & Associates LLC increased its position in shares of BioMarin Pharmaceutical by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 8,841 shares of the biotechnology company’s stock worth $776,000 after buying an additional 253 shares in the last quarter. DnB Asset Management AS increased its position in shares of BioMarin Pharmaceutical by 17.3% in the first quarter. DnB Asset Management AS now owns 19,000 shares of the biotechnology company’s stock worth $1,668,000 after buying an additional 2,800 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of BioMarin Pharmaceutical by 18.8% in the first quarter. Capstone Asset Management Co. now owns 7,268 shares of the biotechnology company’s stock worth $638,000 after buying an additional 1,150 shares in the last quarter. National Pension Service increased its position in shares of BioMarin Pharmaceutical by 8.5% in the first quarter. National Pension Service now owns 147,473 shares of the biotechnology company’s stock worth $13,143,000 after buying an additional 11,552 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of BioMarin Pharmaceutical by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 52,575 shares of the biotechnology company’s stock worth $4,615,000 after buying an additional 800 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

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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