BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “buy” rating restated by equities researchers at Cantor Fitzgerald in a research report issued on Sunday. They presently have a $126.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 27.20% from the stock’s current price.
The analysts wrote, “. Reiterate OW and $126 PT. We think progress updates at R&D day today were supportive of the pipeline’s long-term potential. Key takeaways: New vosoritide data was supportive of Ph3 success and BMRN sounds more confident in Valrox accelerated filing after further regulatory interactions. We continue to think that the company’s pipeline is undervalued at this level and we see highly favorable risk/reward into key pipeline updates in 2019. We think the base business alone (without any pipeline) is worth ~$85-$95/sh and that the company’s powerful rare disease and gene therapy platform is underappreciated.””
Several other equities research analysts also recently issued reports on BMRN. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. ValuEngine raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Raymond James raised their price target on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a report on Friday, October 26th. Stifel Nicolaus raised their price target on BioMarin Pharmaceutical from $102.00 to $109.00 and gave the company a “buy” rating in a report on Friday, August 3rd. Finally, Morgan Stanley raised their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 3rd. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $117.00.
BioMarin Pharmaceutical stock traded up $2.48 during mid-day trading on Friday, hitting $99.06. 1,118,286 shares of the company’s stock traded hands, compared to its average volume of 1,295,821. BioMarin Pharmaceutical has a fifty-two week low of $75.81 and a fifty-two week high of $106.74. The company has a market capitalization of $17.44 billion, a price-to-earnings ratio of -147.85 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.87 and a quick ratio of 2.26.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative return on equity of 2.98% and a negative net margin of 8.35%. The business had revenue of $391.71 million during the quarter, compared to the consensus estimate of $369.43 million. As a group, equities analysts anticipate that BioMarin Pharmaceutical will post -0.14 earnings per share for the current fiscal year.
In related news, insider Henry J. Fuchs sold 25,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $99.50, for a total value of $2,487,500.00. Following the transaction, the insider now owns 142,667 shares in the company, valued at $14,195,366.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $92.55, for a total value of $370,200.00. Following the completion of the transaction, the chief executive officer now owns 292,290 shares in the company, valued at approximately $27,051,439.50. The disclosure for this sale can be found here. Insiders have sold 69,850 shares of company stock valued at $6,911,128 in the last three months. Insiders own 1.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth $105,000. BDO Wealth Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth $127,000. NuWave Investment Management LLC increased its position in shares of BioMarin Pharmaceutical by 42,975.0% in the third quarter. NuWave Investment Management LLC now owns 1,723 shares of the biotechnology company’s stock worth $167,000 after purchasing an additional 1,719 shares during the period. Allen Investment Management LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth $203,000. Finally, Motley Fool Asset Management LLC bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth $217,000.
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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