BioMarin Pharmaceutical Inc. (BMRN) Receives $106.45 Average PT from Brokerages

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given an average rating of “Hold” by the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $106.45.

A number of equities analysts have issued reports on BMRN shares. Sanford C. Bernstein started coverage on BioMarin Pharmaceutical in a research report on Thursday, July 27th. They issued a “market perform” rating and a $89.00 target price on the stock. Evercore ISI started coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 target price on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $129.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Royal Bank Of Canada started coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 target price on the stock. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $115.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, July 14th.

Shares of BioMarin Pharmaceutical (BMRN) traded down 0.78% during mid-day trading on Thursday, hitting $93.92. 790,610 shares of the stock traded hands. The stock has a 50 day moving average price of $92.01 and a 200-day moving average price of $90.00. BioMarin Pharmaceutical has a one year low of $78.42 and a one year high of $100.51. The company’s market cap is $16.46 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its 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. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company had revenue of $317.50 million for the quarter, compared to analyst estimates of $311.41 million. During the same period in the prior year, the company posted ($2.61) EPS. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.

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In other news, EVP Robert Baffi sold 18,415 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the transaction, the executive vice president now owns 129,083 shares of the company’s stock, valued at $11,931,141.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at approximately $12,798,691. The disclosure for this sale can be found here. In the last three months, insiders sold 40,686 shares of company stock valued at $3,736,318. Company insiders own 1.85% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after purchasing an additional 642,623 shares in the last quarter. Jennison Associates LLC grew its stake in shares of BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after purchasing an additional 3,348,168 shares in the last quarter. State Street Corp grew its stake in shares of BioMarin Pharmaceutical by 6.9% in the first quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock worth $351,249,000 after purchasing an additional 258,417 shares in the last quarter. Palo Alto Investors LLC grew its stake in shares of 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 worth $209,146,000 after purchasing an additional 422,400 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after purchasing an additional 875,686 shares in the last quarter. 97.29% of the stock is owned by institutional investors.

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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