Vetr Inc. Lowers BioMarin Pharmaceutical Inc. (BMRN) to Buy
Vetr downgraded shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) from a strong-buy rating to a buy rating in a research note issued to investors on Monday. They currently have $90.22 price objective on the stock.
BMRN has been the topic of a number of other research reports. Goldman Sachs Group Inc. raised BioMarin Pharmaceutical to a neutral rating in a research report on Friday, October 7th. Leerink Swann reaffirmed an outperform rating and set a $127.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, September 16th. Piper Jaffray Cos. reaffirmed an overweight rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 19th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Tuesday, November 1st. Finally, Wedbush reaffirmed a neutral rating and set a $104.00 price objective (up previously from $102.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 28th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and an average target price of $115.16.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 3.261% during trading on Monday, reaching $94.825. The company’s stock had a trading volume of 316,552 shares. BioMarin Pharmaceutical has a 12-month low of $62.12 and a 12-month high of $111.84. The firm’s 50-day moving average is $88.21 and its 200-day moving average is $89.15. The stock’s market capitalization is $16.31 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. The business had revenue of $279.90 million for the quarter, compared to the consensus estimate of $289.70 million. During the same quarter in the prior year, the company earned ($0.60) EPS. The business’s revenue was up 34.0% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 18,467 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $95.61, for a total value of $1,765,629.87. Following the sale, the executive vice president now owns 41,342 shares in the company, valued at $3,952,708.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 41,666 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $91.49, for a total value of $3,812,022.34. Following the completion of the sale, the chief executive officer now owns 420,250 shares in the company, valued at approximately $38,448,672.50. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. increased its stake in BioMarin Pharmaceutical by 22.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,159 shares of the company’s stock worth $107,000 after buying an additional 209 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $111,000. Independent Portfolio Consultants Inc. acquired a new stake in BioMarin Pharmaceutical during the third quarter worth approximately $121,000. Toronto Dominion Bank increased its stake in BioMarin Pharmaceutical by 57.8% in the third quarter. Toronto Dominion Bank now owns 1,401 shares of the company’s stock worth $130,000 after buying an additional 513 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $140,000. Institutional investors own 93.18% of the company’s stock.
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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