BioMarin Pharmaceutical’s (BMRN) Positive Rating Reaffirmed at Robert W. Baird
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “positive” rating reissued by analysts at Robert W. Baird in a research note issued on Friday.
Several other equities research analysts have also issued reports on the company. Vetr raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 price target on the stock in a research report on Wednesday, August 24th. Wedbush reissued a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, July 28th. Jefferies Group reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 17th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Tuesday, August 9th. Finally, Cowen and Company set a $150.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, September 8th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $118.31.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 86.87 on Friday. BioMarin Pharmaceutical has a 12-month low of $62.12 and a 12-month high of $118.48. The firm has a 50-day moving average price of $94.91 and a 200-day moving average price of $89.49. The firm’s market cap is $14.20 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $2.09. The firm had revenue of $300.10 million for the quarter, compared to analyst estimates 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 revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. On average, equities research analysts expect that BioMarin Pharmaceutical will post ($3.95) earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 4,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $99.33, for a total value of $397,320.00. Following the transaction, the chief financial officer now directly owns 42,944 shares of the company’s stock, valued at approximately $4,265,627.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jean Jacques Bienaime sold 41,666 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $91.49, for a total value of $3,812,022.34. Following the completion of the transaction, the chief executive officer now directly owns 420,250 shares in the company, valued at $38,448,672.50. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Nisa Investment Advisors LLC raised its position in shares of BioMarin Pharmaceutical by 29.6% in the third quarter. Nisa Investment Advisors LLC now owns 9,620 shares of the company’s stock valued at $890,000 after buying an additional 2,200 shares during the last quarter. Creative Planning raised its position in shares of BioMarin Pharmaceutical by 285.6% in the third quarter. Creative Planning now owns 13,786 shares of the company’s stock valued at $1,275,000 after buying an additional 10,211 shares during the last quarter. Catawba Capital Management VA purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $318,000. Independent Portfolio Consultants Inc. purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $121,000. Finally, First American Trust FSB purchased a new position in shares of BioMarin Pharmaceutical during the third quarter valued at $2,237,000. 93.02% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Company Profile
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).
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