BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a report released on Monday. The brokerage currently has a $89.16 target price on the stock. Vetr‘s price target would suggest a potential downside of 3.31% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Credit Suisse Group AG reiterated a “buy” rating and issued a $111.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, November 7th. Piper Jaffray Cos. cut BioMarin Pharmaceutical from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $84.00 in a research note on Monday, November 7th. They noted that the move was a valuation call. Deutsche Bank AG began coverage on BioMarin Pharmaceutical in a research note on Thursday, November 3rd. They issued a “buy” rating and a $106.00 price objective on the stock. Zacks Investment Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $127.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, October 31st. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $115.11.

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 92.21 on Monday. BioMarin Pharmaceutical has a 1-year low of $62.12 and a 1-year high of $110.35. The stock’s market cap is $15.86 billion. The firm’s 50-day moving average price is $87.70 and its 200 day moving average price is $89.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) 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 company had revenue of $279.90 million for the quarter, compared to analysts’ expectations of $289.70 million. During the same period in the prior year, the firm earned ($0.60) earnings per share. The firm’s revenue was up 34.0% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current fiscal year.

In related news, CEO Jean Jacques Bienaime sold 137,368 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $95.34, for a total transaction of $13,096,665.12. Following the completion of the transaction, the chief executive officer now directly owns 421,161 shares in the company, valued at approximately $40,153,489.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 transaction, the executive vice president now owns 41,342 shares of the company’s stock, valued at $3,952,708.62. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Douglass Winthrop Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 1.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 3,110 shares of the company’s stock valued at $288,000 after buying an additional 35 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of BioMarin Pharmaceutical by 1.2% in the second quarter. Pacer Advisors Inc. now owns 4,339 shares of the company’s stock valued at $338,000 after buying an additional 52 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of BioMarin Pharmaceutical by 0.5% in the third quarter. CIBC Asset Management Inc now owns 11,723 shares of the company’s stock valued at $1,085,000 after buying an additional 56 shares in the last quarter. Hartford Investment Management Co. increased its position in shares of BioMarin Pharmaceutical by 2.5% in the second quarter. Hartford Investment Management Co. now owns 2,906 shares of the company’s stock valued at $226,000 after buying an additional 70 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of BioMarin Pharmaceutical by 1.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,161 shares of the company’s stock valued at $385,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 93.59% 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).

5 Day Chart for NASDAQ:BMRN

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