BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) had its price target reduced by research analysts at Stifel Nicolaus from $107.00 to $105.00 in a research report issued to clients and investors on Friday, October 27th. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 28.00% from the stock’s current price.
A number of other brokerages have also commented on BMRN. Zacks Investment Research lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Morgan Stanley restated an “overweight” rating and issued a $117.00 target price (up from $115.00) on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $129.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies assumed coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued an “overweight” rating and a $113.00 target price for the company. 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. The stock currently has a consensus rating of “Hold” and a consensus price target of $111.55.
BioMarin Pharmaceutical (BMRN) traded down $0.37 on Friday, hitting $82.03. The stock had a trading volume of 842,100 shares, compared to its average volume of 1,247,912. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical has a 12 month low of $79.50 and a 12 month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to analyst estimates 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 revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. sell-side analysts predict that BioMarin Pharmaceutical will post -0.66 EPS for the current year.
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In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the transaction, the director now owns 19,660 shares in the company, valued at $1,794,171.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Robert Baffi sold 18,415 shares of the firm’s 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 transaction, the executive vice president now owns 129,083 shares in the company, valued at approximately $11,931,141.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,686 shares of company stock worth $3,736,318. 1.85% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BMRN. Teachers Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 22.0% during the first quarter. Teachers Advisors LLC now owns 687,042 shares of the biotechnology company’s stock worth $60,309,000 after buying an additional 123,833 shares during the last quarter. Global X Management Co. LLC boosted its holdings in BioMarin Pharmaceutical by 59.7% during the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in BioMarin Pharmaceutical by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 188,147 shares of the biotechnology company’s stock worth $16,517,000 after buying an additional 7,501 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in BioMarin Pharmaceutical by 8.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 275,810 shares of the biotechnology company’s stock worth $24,211,000 after buying an additional 21,621 shares during the last quarter. Finally, Barings LLC bought a new position in BioMarin Pharmaceutical during the first quarter worth about $458,000. Hedge funds and other institutional investors own 96.89% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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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