BioMarin Pharmaceutical Inc. (BMRN) Rating Reiterated by Wedbush
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a research report issued to clients and investors on Wednesday. They currently have a $108.00 target price on the biotechnology company’s stock. Wedbush’s price objective points to a potential upside of 30.70% from the stock’s current price.
A number of other equities research analysts have also recently commented on BMRN. Leerink Swann reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. Zacks Investment Research cut BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Barclays PLC restated an “equal weight” rating and issued a $100.00 price objective (down from $105.00) on shares of BioMarin Pharmaceutical in a research note on Saturday, July 22nd. BidaskClub cut BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Sanford C. Bernstein began coverage on BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a “market perform” rating and a $89.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and an average target price of $111.55.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up $0.07 during trading hours on Wednesday, reaching $82.63. The company’s stock had a trading volume of 356,392 shares, compared to its average volume of 1,410,000. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41. BioMarin Pharmaceutical has a fifty-two week low of $79.50 and a fifty-two week high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. sell-side analysts forecast that BioMarin Pharmaceutical will post -0.66 earnings per share for the current year.
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In other news, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock worth $3,736,318 in the last ninety days. Corporate insiders own 1.85% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of BMRN. Jennison Associates LLC raised its stake in BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after purchasing an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC grew its holdings in BioMarin Pharmaceutical by 63.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after buying an additional 875,686 shares in the last quarter. USS Investment Management Ltd grew its holdings in BioMarin Pharmaceutical by 214.7% during the 2nd quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after buying an additional 743,599 shares in the last quarter. Vanguard Group Inc. grew its holdings in BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its holdings in BioMarin Pharmaceutical by 25.2% during the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock valued at $192,399,000 after buying an additional 426,016 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Company Profile
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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