BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a report issued on Friday. They currently have a $112.00 target price on the biotechnology company’s stock, down from their previous target price of $115.00. Wedbush’s price target would suggest a potential upside of 21.09% from the stock’s current price.
A number of other equities analysts have also issued reports on the company. Credit Suisse Group upped their target price on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday. Canaccord Genuity upped their target price on BioMarin Pharmaceutical from $101.00 to $105.00 and gave the company a “buy” rating in a research report on Friday. ValuEngine lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Leerink Swann upped their target price on BioMarin Pharmaceutical from $132.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, May 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $111.55.
Shares of BioMarin Pharmaceutical opened at $92.49 on Friday, according to Marketbeat Ratings. BioMarin Pharmaceutical has a 52-week low of $75.81 and a 52-week high of $100.03. The company has a market capitalization of $15.60 billion, a price-to-earnings ratio of -138.04 and a beta of 1.68. The company has a current ratio of 2.90, a quick ratio of 2.29 and a debt-to-equity ratio of 0.29.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative net margin of 10.48% and a negative return on equity of 3.01%. The business had revenue of $358.31 million during the quarter, compared to analyst estimates of $346.24 million. sell-side analysts expect that BioMarin Pharmaceutical will post -0.12 earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 15,000 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $84.73, for a total value of $1,270,950.00. Following the sale, the chief executive officer now directly owns 279,674 shares of the company’s stock, valued at $23,696,778.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 2,105 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $79.04, for a total value of $166,379.20. Following the completion of the sale, the executive vice president now directly owns 90,089 shares in the company, valued at $7,120,634.56. The disclosure for this sale can be found here. Insiders sold 167,837 shares of company stock worth $14,341,460 over the last ninety days. 1.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Bank of Montreal Can increased its position in BioMarin Pharmaceutical by 6.6% in the fourth quarter. Bank of Montreal Can now owns 109,134 shares of the biotechnology company’s stock worth $9,732,000 after buying an additional 6,802 shares during the period. Gateway Investment Advisers LLC acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth $863,000. Creative Planning increased its position in BioMarin Pharmaceutical by 52.4% in the fourth quarter. Creative Planning now owns 6,192 shares of the biotechnology company’s stock worth $552,000 after buying an additional 2,129 shares during the period. Schwab Charles Investment Management Inc. increased its position in BioMarin Pharmaceutical by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 335,899 shares of the biotechnology company’s stock worth $29,953,000 after buying an additional 15,414 shares during the period. Finally, State of Alaska Department of Revenue increased its position in BioMarin Pharmaceutical by 233.1% in the fourth quarter. State of Alaska Department of Revenue now owns 18,691 shares of the biotechnology company’s stock worth $1,666,000 after buying an additional 13,080 shares during the period.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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