BioMarin Pharmaceutical Inc. (BMRN) Rating Increased to Buy at Vetr Inc.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was upgraded by stock analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $91.77 price objective on the stock. Vetr‘s price objective suggests a potential upside of 7.42% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. William Blair set a $116.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Thursday, July 28th. Robert W. Baird set a $115.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Saturday, October 15th. RBC Capital Markets set a $125.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Sunday, October 30th. Wedbush reissued a “neutral” rating and issued a $104.00 target price (down previously from $108.00) on shares of BioMarin Pharmaceutical in a report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, September 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $115.24.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 85.43 on Monday. The stock’s market cap is $14.69 billion. The firm has a 50-day moving average price of $86.85 and a 200-day moving average price of $89.50. BioMarin Pharmaceutical has a one year low of $62.12 and a one year high of $107.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate 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 earned $279.90 million during the quarter, compared to analysts’ expectations of $289.70 million. During the same quarter in the previous year, the business earned ($0.60) earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. On average, equities analysts predict that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.
In other news, CEO Jean Jacques Bienaime sold 70,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $82.52, for a total value of $5,776,400.00. Following the transaction, the chief executive officer now directly owns 393,368 shares in the company, valued at approximately $32,460,727.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $95.06, for a total value of $1,425,900.00. Following the completion of the transaction, the executive vice president now owns 128,878 shares in the company, valued at $12,251,142.68. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. increased its position 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 during the period. Independent Portfolio Consultants Inc. purchased a new position in BioMarin Pharmaceutical during the third quarter worth approximately $121,000. Toronto Dominion Bank increased its position 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 during the period. Rockefeller Financial Services Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $111,000. Finally, Meeder Asset Management Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter worth approximately $140,000. Institutional investors own 93.68% of the company’s stock.
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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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