Brokerages Set BioMarin Pharmaceutical Inc. (BMRN) Target Price at $114.07
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average recommendation of “Buy” from the twenty research firms that are covering the stock. Six analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $114.07.
A number of research firms have commented on BMRN. William Blair set a $116.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, July 28th. Robert W. Baird set a $115.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Saturday, October 15th. RBC Capital Markets set a $125.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Sunday, October 30th. Vetr upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $110.24 price objective for the company in a report on Tuesday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $104.00 price objective (down previously from $108.00) on shares of BioMarin Pharmaceutical in a report on Tuesday, September 6th.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 89.00 on Wednesday. The stock has a 50 day moving average price of $87.24 and a 200 day moving average price of $89.34. The company’s market capitalization is $15.31 billion. BioMarin Pharmaceutical has a one year low of $62.12 and a one year high of $107.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.13. The company earned $279.90 million during the quarter, compared to the consensus estimate of $289.70 million. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. BioMarin Pharmaceutical’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.60) EPS. On average, equities research analysts predict that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.
In other BioMarin Pharmaceutical news, EVP Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, August 26th. The shares were sold at an average price of $95.06, for a total value of $1,425,900.00. Following the transaction, the executive vice president now directly owns 128,878 shares in the company, valued at $12,251,142.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of BioMarin Pharmaceutical stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the completion of the transaction, the executive vice president now owns 41,342 shares in the company, valued at $3,952,708.62. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Candriam Luxembourg S.C.A. raised its position in BioMarin Pharmaceutical by 18.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 247,100 shares of the company’s stock worth $19,225,000 after buying an additional 38,628 shares in the last quarter. ING Groep NV acquired a new position in BioMarin Pharmaceutical during the second quarter worth approximately $57,357,000. William Blair Investment Management LLC raised its position in BioMarin Pharmaceutical by 27.3% in the second quarter. William Blair Investment Management LLC now owns 1,254,176 shares of the company’s stock worth $97,575,000 after buying an additional 269,008 shares in the last quarter. Strs Ohio raised its position in BioMarin Pharmaceutical by 50.7% in the second quarter. Strs Ohio now owns 491,556 shares of the company’s stock worth $38,243,000 after buying an additional 165,472 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in BioMarin Pharmaceutical by 205.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 177,243 shares of the company’s stock worth $13,790,000 after buying an additional 119,149 shares in the last quarter. Institutional investors own 93.68% 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).
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