Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) saw unusually-high trading volume on Wednesday . Approximately 2,645,200 shares traded hands during trading, an increase of 151% from the previous session’s volume of 1,052,553 shares.The stock last traded at $87.16 and had previously closed at $81.05.
BMRN has been the subject of several research analyst reports. ValuEngine downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Robert W. Baird set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Oppenheimer reduced their target price on BioMarin Pharmaceutical from $92.00 to $81.00 in a research note on Friday, February 22nd. BidaskClub upgraded BioMarin Pharmaceutical from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, Barclays restated a “hold” rating and issued a $95.00 price target on shares of BioMarin Pharmaceutical in a research note on Sunday, February 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus price target of $116.00.
The company has a market cap of $14.73 billion, a PE ratio of -264.12 and a beta of 1.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.83 and a quick ratio of 2.76.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The business had revenue of $400.70 million during the quarter, compared to the consensus estimate of $389.95 million. BioMarin Pharmaceutical had a negative return on equity of 2.97% and a negative net margin of 5.90%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.12 EPS. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post -0.06 EPS for the current year.
In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 13,473 shares of BioMarin Pharmaceutical stock in a transaction on Monday, April 1st. The stock was sold at an average price of $89.00, for a total value of $1,199,097.00. Following the completion of the transaction, the chief financial officer now directly owns 47,510 shares of the company’s stock, valued at approximately $4,228,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 3,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $90.12, for a total value of $270,360.00. Following the completion of the transaction, the chief executive officer now directly owns 291,290 shares of the company’s stock, valued at $26,251,054.80. The disclosure for this sale can be found here. Insiders sold a total of 107,011 shares of company stock valued at $9,596,168 over the last ninety days. Insiders own 1.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $26,000. Rational Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 3,211.1% during the 1st quarter. Rational Advisors LLC now owns 298 shares of the biotechnology company’s stock worth $26,000 after buying an additional 289 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in shares of BioMarin Pharmaceutical by 49.6% during the 4th quarter. Commonwealth Bank of Australia now owns 350 shares of the biotechnology company’s stock worth $29,000 after buying an additional 116 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $30,000. Finally, PRW Wealth Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $30,000. 99.55% of the stock is owned by hedge funds and other institutional investors.
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BioMarin Pharmaceutical Company Profile (NASDAQ:BMRN)
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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