BioMarin Pharmaceutical Inc. (BMRN) Upgraded to Neutral by Goldman Sachs Group Inc.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was upgraded by investment analysts at Goldman Sachs Group Inc. to a “neutral” rating in a report released on Friday.
A number of other equities analysts have also weighed in on BMRN. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, July 28th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 7th. Stifel Nicolaus upped their price target on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Leerink Swann reiterated an “outperform” rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, July 28th. Finally, Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $120.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 92.63 on Friday. The company has a 50-day moving average of $95.62 and a 200-day moving average of $89.19. BioMarin Pharmaceutical has a 12 month low of $62.12 and a 12 month high of $118.48. The stock’s market cap is $15.14 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $2.09. The business had revenue of $300.10 million for the quarter, compared to the consensus estimate of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.51) earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($3.95) EPS for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 41,666 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $91.49, for a total transaction of $3,812,022.34. Following the transaction, the chief executive officer now directly owns 420,250 shares in the company, valued at approximately $38,448,672.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 6,400 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $95.01, for a total transaction of $608,064.00. Following the transaction, the director now owns 20,260 shares in the company, valued at $1,924,902.60. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Financial Services Inc. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $111,000. Independent Portfolio Consultants Inc. acquired a new position in shares of BioMarin Pharmaceutical during the third quarter valued at about $121,000. Meeder Asset Management Inc. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $140,000. Mutual of America Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the last quarter. Institutional investors own 93.02% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
Receive News & Stock Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related stocks with our FREE daily email newsletter.