BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Analysts at Jefferies Group upped their Q3 2017 EPS estimates for shares of BioMarin Pharmaceutical in a research note issued to investors on Wednesday. Jefferies Group analyst E. Yang now anticipates that the biotechnology company will post earnings per share of ($0.06) for the quarter, up from their prior forecast of ($0.24). Jefferies Group has a “Buy” rating and a $116.00 price target on the stock. Jefferies Group also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.33) EPS, FY2017 earnings at ($0.70) EPS, FY2018 earnings at ($0.37) EPS, FY2020 earnings at $2.63 EPS and FY2021 earnings at $3.93 EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. During the same quarter in the previous year, the business posted ($2.61) earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis.
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BMRN has been the topic of several other research reports. Wedbush reiterated a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Monday. Deutsche Bank AG set a $105.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, April 28th. BMO Capital Markets cut their price objective on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. J P Morgan Chase & Co reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, May 1st. Finally, 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 research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company. BioMarin Pharmaceutical presently has an average rating of “Hold” and an average target price of $110.20.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at 89.05 on Monday. The company has a 50-day moving average of $90.43 and a 200 day moving average of $90.03. The company’s market cap is $15.61 billion. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $102.49.
In related news, CEO Jean Jacques Bienaime sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $88.38, for a total transaction of $441,900.00. Following the completion of the sale, the chief executive officer now owns 238,564 shares in the company, valued at $21,084,286.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the business’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 61,740 shares of company stock valued at $5,659,589. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of BMRN. Vanguard Group Inc. boosted its stake in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock valued at $1,202,796,000 after buying an additional 495,118 shares during the last quarter. Jennison Associates LLC boosted 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 valued at $1,202,709,000 after buying an additional 3,348,168 shares during the last quarter. Primecap Management Co. CA boosted 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 valued at $764,763,000 after buying an additional 826,320 shares during the last quarter. State Street Corp boosted 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 valued at $351,249,000 after buying an additional 258,417 shares during the last quarter. Finally, Palo Alto Investors LLC boosted 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 valued at $209,146,000 after buying an additional 422,400 shares during the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.
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).
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