BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “equal weight” rating reissued by equities research analysts at Barclays PLC in a report released on Saturday, July 22nd. They presently have a $100.00 target price on the biotechnology company’s stock, down from their prior target price of $105.00. Barclays PLC’s target price would suggest a potential upside of 23.58% from the company’s previous close.
Several other equities analysts have also issued reports on BMRN. UBS AG began coverage on BioMarin Pharmaceutical in a report on Wednesday, March 29th. They issued a “neutral” rating and a $92.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 target price (up from $111.00) on shares of BioMarin Pharmaceutical in a report on Thursday, July 13th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $115.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $109.73.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded down 0.07% during midday trading on Friday, reaching $80.92. 1,117,228 shares of the company were exchanged. The firm’s 50 day moving average is $87.59 and its 200-day moving average is $89.88. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.06. The company’s market capitalization is $14.18 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, topping the 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 company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.61) earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.
In related news, EVP Jeffrey Robert Ajer sold 1,004 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total value of $89,968.44. Following the sale, the executive vice president now owns 47,944 shares in the company, valued at $4,296,261.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $90.00, for a total value of $337,500.00. Following the completion of the sale, the director now owns 19,660 shares in the company, valued at approximately $1,769,400. The disclosure for this sale can be found here. Insiders sold 56,740 shares of company stock worth $5,200,939 in the last quarter. 2.50% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 13.6% in the first 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 period. Nikko Asset Management Americas Inc. purchased a new stake in BioMarin Pharmaceutical during the first quarter worth $114,000. Global X Management Co. LLC increased its stake in BioMarin Pharmaceutical by 59.7% in the first 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 increased its stake in BioMarin Pharmaceutical by 143.5% in the second 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. Finally, Toronto Dominion Bank increased its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.
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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