BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Wedbush increased their FY2020 earnings per share estimates for BioMarin Pharmaceutical in a research report issued to clients and investors on Monday, March 12th, according to Zacks Investment Research. Wedbush analyst L. Moussatos now anticipates that the biotechnology company will post earnings of $1.52 per share for the year, up from their previous estimate of $1.42. Wedbush has a “Outperform” rating and a $110.00 price objective on the stock. Wedbush also issued estimates for BioMarin Pharmaceutical’s FY2021 earnings at $2.53 EPS and FY2022 earnings at $5.14 EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative return on equity of 3.18% and a negative net margin of 8.91%. The company had revenue of $358.31 million during the quarter, compared to the consensus estimate of $346.24 million.
A number of other brokerages have also recently commented on BMRN. BidaskClub upgraded BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a research report on Saturday, December 16th. JPMorgan Chase decreased their price target on BioMarin Pharmaceutical from $131.00 to $129.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Piper Jaffray restated a “buy” rating and issued a $114.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus price target of $112.34.
Shares of NASDAQ BMRN opened at $76.01 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 2.12 and a debt-to-equity ratio of 0.29. BioMarin Pharmaceutical has a 52 week low of $75.81 and a 52 week high of $100.51. The firm has a market capitalization of $13,856.89, a P/E ratio of -113.45 and a beta of 1.69.
In other news, EVP George Eric Davis sold 30,000 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the sale, the executive vice president now directly owns 112,942 shares of the company’s stock, valued at $10,239,321.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 2,119 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $80.12, for a total value of $169,774.28. Following the sale, the executive vice president now directly owns 52,914 shares in the company, valued at $4,239,469.68. The disclosure for this sale can be found here. Insiders have sold 85,269 shares of company stock worth $7,301,002 over the last three months. Insiders own 1.85% of the company’s stock.
Several institutional investors have recently bought and sold shares of BMRN. The Manufacturers Life Insurance Company lifted its stake in shares of BioMarin Pharmaceutical by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after acquiring an additional 812 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $695,000. Prudential Financial Inc. lifted its stake in shares of BioMarin Pharmaceutical by 9.3% in the third quarter. Prudential Financial Inc. now owns 158,700 shares of the biotechnology company’s stock worth $14,771,000 after acquiring an additional 13,530 shares during the period. Keybank National Association OH lifted its stake in shares of BioMarin Pharmaceutical by 57.1% in the third quarter. Keybank National Association OH now owns 7,806 shares of the biotechnology company’s stock worth $727,000 after acquiring an additional 2,836 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of BioMarin Pharmaceutical by 163.2% in the third quarter. BNP Paribas Arbitrage SA now owns 55,521 shares of the biotechnology company’s stock worth $5,167,000 after acquiring an additional 34,430 shares during the period.
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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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