BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Wedbush upped their FY2017 earnings per share estimates for shares of BioMarin Pharmaceutical in a report released on Wednesday, Zacks Investment Research reports. Wedbush analyst L. Moussatos now expects that the biotechnology company will post earnings per share of ($0.64) for the year, up from their previous estimate of ($0.68). Wedbush has a “Neutral” rating and a $108.00 price target on the stock. Wedbush also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.26) EPS, Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at ($0.19) EPS, Q3 2018 earnings at ($0.21) EPS, Q4 2018 earnings at ($0.15) EPS, FY2018 earnings at ($0.86) EPS, FY2019 earnings at $0.20 EPS and FY2020 earnings at $1.19 EPS.
Several other brokerages also recently commented on BMRN. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price objective on the stock. Goldman Sachs Group reaffirmed a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Royal Bank Of Canada initiated coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 price objective on the stock. J P Morgan Chase & Co set a $131.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Monday, November 27th. Finally, BMO Capital Markets increased their price target on BioMarin Pharmaceutical from $117.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and a consensus target price of $111.59.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up $0.08 during trading on Monday, reaching $80.90. The company’s stock had a trading volume of 1,232,612 shares, compared to its average volume of 1,225,205. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 12 month low of $80.10 and a 12 month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million for the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. BioMarin Pharmaceutical’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS.
Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in BioMarin Pharmaceutical by 3.6% in the second quarter. Swiss National Bank now owns 631,600 shares of the biotechnology company’s stock valued at $57,362,000 after buying an additional 22,200 shares during the last quarter. Aperio Group LLC raised its stake in BioMarin Pharmaceutical by 9.7% in the second quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock valued at $5,131,000 after buying an additional 5,006 shares during the last quarter. Prudential Financial Inc. raised its stake in BioMarin Pharmaceutical by 2.9% in the second quarter. Prudential Financial Inc. now owns 145,170 shares of the biotechnology company’s stock valued at $13,185,000 after buying an additional 4,026 shares during the last quarter. Eagle Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 21.7% in the second quarter. Eagle Asset Management Inc. now owns 306,353 shares of the biotechnology company’s stock worth $27,822,000 after purchasing an additional 54,675 shares during the last quarter. Finally, Dupont Capital Management Corp raised its stake in shares of BioMarin Pharmaceutical by 209.3% in the third quarter. Dupont Capital Management Corp now owns 5,763 shares of the biotechnology company’s stock worth $536,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors own 99.26% of the company’s stock.
In other BioMarin Pharmaceutical news, EVP Robert Baffi sold 18,415 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 129,083 shares in the company, valued at $11,931,141.69. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP George Eric Davis sold 1,200 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $85.64, for a total value of $102,768.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,886 shares of company stock valued at $3,839,086 over the last 90 days. 1.85% of the stock is currently owned by company insiders.
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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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