Brokerages Set BioMarin Pharmaceutical Inc. (BMRN) Price Target at $119.19
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned a consensus recommendation of “Buy” from the eighteen ratings firms that are presently covering the firm. Three research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $116.39.
A number of analysts have recently issued reports on the stock. Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, July 28th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 7th. Stifel Nicolaus increased 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 reissued an “outperform” rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, July 28th. Finally, Credit Suisse Group AG set a $111.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, July 28th.
In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction on Monday, August 1st. The shares were sold at an average price of $99.33, for a total transaction of $397,320.00. Following the sale, the chief financial officer now owns 42,944 shares in the company, valued at $4,265,627.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction on Monday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $28,700.00. Following the sale, the vice president now owns 14,260 shares in the company, valued at approximately $1,426,000. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. acquired a new stake in BioMarin Pharmaceutical during the third quarter worth $121,000. Rockefeller Financial Services Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter worth $111,000. Meeder Asset Management Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter worth $140,000. Mutual of America Capital Management LLC increased its stake in 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 worth $144,000 after buying an additional 1,674 shares in the last quarter. Finally, LS Investment Advisors LLC increased its stake in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock worth $151,000 after buying an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 85.04 on Wednesday. BioMarin Pharmaceutical has a 52 week low of $62.12 and a 52 week high of $118.48. The stock’s market capitalization is $13.90 billion. The stock has a 50 day moving average of $94.63 and a 200 day moving average of $89.53.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing the consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The firm earned $300.10 million during the quarter, compared to analyst estimates of $278.75 million. During the same quarter in the previous year, the business earned ($0.51) earnings per share. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts predict that BioMarin Pharmaceutical will post ($3.95) earnings per share for the current fiscal year.
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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