BioMarin Pharmaceutical Inc. (BMRN) Receives Consensus Recommendation of “Buy” from Analysts
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus recommendation of “Buy” by the nineteen analysts that are presently covering the company. Three investment analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $119.19.
Several brokerages have weighed in on BMRN. Vetr downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $103.86 target price for the company. in a research note on Monday, August 1st. Barclays PLC lifted their price objective on shares of BioMarin Pharmaceutical from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Stifel Nicolaus lifted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Piper Jaffray Cos. lifted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Jefferies Group lifted their price objective on shares of BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 5th.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 3.11% during midday trading on Wednesday, hitting $88.82. The stock had a trading volume of 485,626 shares. The firm’s market capitalization is $14.52 billion. The firm has a 50-day moving average of $95.47 and a 200 day moving average of $89.51. BioMarin Pharmaceutical has a 52-week low of $62.12 and a 52-week high of $118.48.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $2.09. The firm earned $300.10 million during the quarter, compared to analyst estimates of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. BioMarin Pharmaceutical’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($3.95) EPS for the current year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 53,125 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $93.65, for a total value of $4,975,156.25. Following the transaction, the chief executive officer now directly owns 431,709 shares in the company, valued at approximately $40,429,547.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian Mueller sold 287 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the completion of the transaction, the vice president now owns 14,260 shares in the company, valued at $1,426,000. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Rockefeller Financial Services Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at $111,000. Independent Portfolio Consultants Inc. purchased a new position in BioMarin Pharmaceutical during the third quarter valued at $121,000. Meeder Asset Management Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at $140,000. Mutual of America Capital Management LLC raised its position in BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the last quarter. Institutional investors own 93.02% of the company’s stock.
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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