BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $91.77 price target on the stock. Vetr‘s price target would indicate a potential upside of 3.11% from the company’s previous close.

Several other equities research analysts also recently commented on BMRN. Jefferies Group upped their target price on shares of BioMarin Pharmaceutical from $116.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Piper Jaffray Cos. upped their target price on shares of BioMarin Pharmaceutical from $107.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Stifel Nicolaus upped their target price on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Barclays PLC upped their target price on shares of BioMarin Pharmaceutical from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $115.24.

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 89.00 on Monday. The firm’s market cap is $15.31 billion. The company has a 50 day moving average of $86.29 and a 200 day moving average of $89.53. BioMarin Pharmaceutical has a 1-year low of $62.12 and a 1-year high of $107.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The business had revenue of $279.90 million for the quarter, compared to analyst estimates of $289.70 million. During the same period in the prior year, the business posted ($0.60) earnings per share. BioMarin Pharmaceutical’s revenue was up 34.0% compared to the same quarter last year. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current fiscal year.

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In related news, CEO Jean Jacques Bienaime sold 69,744 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $87.56, for a total transaction of $6,106,784.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the transaction, the executive vice president now directly owns 41,342 shares in the company, valued at $3,952,708.62. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised 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 in the last quarter. Rockefeller Financial Services Inc. acquired a new position in BioMarin Pharmaceutical during the second quarter worth approximately $111,000. Independent Portfolio Consultants Inc. acquired a new position in BioMarin Pharmaceutical during the third quarter worth approximately $121,000. Toronto Dominion Bank raised 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 in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in BioMarin Pharmaceutical during the second quarter worth approximately $140,000. 93.68% of the stock is currently owned by institutional investors and hedge funds.

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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