BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had its price target cut by Stifel Nicolaus from $107.00 to $105.00 in a report released on Friday. They currently have a buy rating on the biotechnology company’s stock.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, July 24th. Leerink Swann reissued an outperform rating and set a $142.00 target price (up from $136.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, October 19th. Wedbush reissued a neutral rating and set a $108.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 16th. They set an outperform rating and a $100.00 target price on the stock. Finally, SunTrust Banks, Inc. set a $115.00 target price on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $111.25.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.75% on Friday, hitting $83.15. The company’s stock had a trading volume of 2,491,801 shares. The stock’s 50 day moving average price is $91.65 and its 200 day moving average price is $89.97. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $100.51. The stock’s market capitalization is $14.57 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.61%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. On average, analysts forecast that BioMarin Pharmaceutical will post ($0.74) earnings per share for the current fiscal year.
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In related news, EVP Jeffrey Robert Ajer sold 3,521 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $95.00, for a total value of $334,495.00. Following the completion of the sale, the executive vice president now owns 49,299 shares of the company’s stock, valued at $4,683,405. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares of the company’s stock, valued at approximately $1,794,171.60. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock valued at $3,736,318 in the last quarter. 1.85% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after acquiring an additional 642,623 shares during the period. Jennison Associates LLC grew its holdings in BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after acquiring an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC grew its holdings in BioMarin Pharmaceutical by 63.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after acquiring an additional 875,686 shares during the period. Manning & Napier Advisors LLC grew its holdings in BioMarin Pharmaceutical by 25.2% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after acquiring an additional 426,016 shares during the period. Finally, Pictet Asset Management Ltd. grew its holdings in BioMarin Pharmaceutical by 17.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after acquiring an additional 164,788 shares during the period. 97.34% 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).
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