BioMarin Pharmaceutical Earns BBB+ Credit Rating (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) has been given a “BBB+” credit rating by Morningstar. The firm’s “BBB+” rating suggests that the company is a moderate default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
BMRN has been the subject of a number of other recent research reports. Analysts at Nomura raised their price target on shares of BioMarin Pharmaceutical from $77.00 to $82.00 in a research note on Thursday, July 31st. They now have a “neutral” rating on the stock. Analysts at Credit Suisse upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $73.00 price target on the stock, up previously from $61.74. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $82.46.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 70.39 on Wednesday. BioMarin Pharmaceutical has a one year low of $55.04 and a one year high of $84.25. The stock’s 50-day moving average is $64.6 and its 200-day moving average is $65.25. The company’s market cap is $10.355 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.18. The company had revenue of $191.70 million for the quarter, compared to the consensus estimate of $159.70 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 40.1% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post $-1.28 EPS for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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