BioMarin Pharmaceutical Inc. (BMRN) Receives Buy Rating from Cowen and Company
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a note issued to investors on Monday, May 15th, StockTargetPrices.com reports. They presently have a $150.00 price target on the biotechnology company’s stock. Cowen and Company’s price objective indicates a potential upside of 69.51% from the stock’s current price.
A number of other research analysts have also weighed in on the stock. Vetr raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $100.06 price target on the stock in a research note on Monday, March 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, May 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, May 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.06.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded down 2.19% during midday trading on Monday, hitting $88.49. The stock had a trading volume of 1,833,295 shares. The stock’s market cap is $15.44 billion. The firm has a 50 day moving average price of $90.89 and a 200-day moving average price of $88.75. BioMarin Pharmaceutical has a 52-week low of $73.45 and a 52-week high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.33. The firm had revenue of $303.70 million for the quarter, compared to analyst estimates of $292.58 million. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. BioMarin Pharmaceutical’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same period last year, the company posted ($0.53) EPS. Equities analysts predict that BioMarin Pharmaceutical will post ($0.81) EPS for the current fiscal year.
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In related news, SVP Brian Mueller sold 7,482 shares of BioMarin Pharmaceutical stock in a transaction on Monday, May 8th. The shares were sold at an average price of $91.87, for a total transaction of $687,371.34. Following the sale, the senior vice president now directly owns 18,350 shares in the company, valued at approximately $1,685,814.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of BioMarin Pharmaceutical stock in a transaction on Monday, May 8th. The stock was sold at an average price of $96.09, for a total transaction of $960,900.00. Following the sale, the chief executive officer now owns 238,496 shares in the company, valued at $22,917,080.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,649 shares of company stock valued at $5,977,789. Corporate insiders own 2.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Grandfield & Dodd LLC raised its stake in shares of BioMarin Pharmaceutical by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 5,727 shares of the biotechnology company’s stock valued at $503,000 after buying an additional 65 shares in the last quarter. Creative Planning raised its position in BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock worth $1,180,000 after buying an additional 100 shares in the last quarter. Parallel Advisors LLC raised its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its position in BioMarin Pharmaceutical by 1.3% in the third quarter. JGP Global Gestao de Recursos Ltda. now owns 10,448 shares of the biotechnology company’s stock worth $967,000 after buying an additional 131 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in BioMarin Pharmaceutical by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,587 shares of the biotechnology company’s stock worth $376,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 96.74% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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