BioMarin Pharmaceutical Inc. (BMRN) Forecasted to Post FY2018 Earnings of $0.96 Per Share
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Analysts at Leerink Swann boosted their FY2018 earnings estimates for BioMarin Pharmaceutical in a research note issued to investors on Tuesday. Leerink Swann analyst J. Schwartz now forecasts that the firm will post earnings of $0.96 per share for the year, up from their previous estimate of $0.85. Leerink Swann currently has a “Outperform” rating and a $127.00 target price on the stock.
Other equities research analysts also recently issued research reports about the stock. William Blair set a $116.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, July 28th. Vetr upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $110.24 price objective on the stock in a research note on Tuesday, August 2nd. Wedbush restated a “neutral” rating and issued a $104.00 price objective (down previously from $108.00) on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 6th. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 7th. Finally, Robert W. Baird raised their price objective on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $120.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 1.23% during trading on Thursday, hitting $86.87. 1,914,815 shares of the stock traded hands. The stock’s market cap is $14.20 billion. The company has a 50-day moving average price of $95.15 and a 200 day moving average price of $89.50. BioMarin Pharmaceutical has a one year low of $62.12 and a one year high of $118.48.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing the consensus estimate of ($0.52) by $2.09. The firm had revenue of $300.10 million for the quarter, compared to the consensus estimate of $278.75 million. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.51) EPS.
In other news, CFO Daniel K. Spiegelman sold 4,000 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $99.33, for a total transaction of $397,320.00. Following the transaction, the chief financial officer now owns 42,944 shares in the company, valued at approximately $4,265,627.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total value of $28,700.00. Following the transaction, the vice president now owns 14,260 shares in the company, valued at approximately $1,426,000. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its position in BioMarin Pharmaceutical by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 13,733 shares of the company’s stock valued at $1,133,000 after buying an additional 1,630 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in BioMarin Pharmaceutical by 316.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,052,900 shares of the company’s stock valued at $86,843,000 after buying an additional 800,000 shares during the period. National Pension Service boosted its position in BioMarin Pharmaceutical by 4.2% in the first quarter. National Pension Service now owns 92,142 shares of the company’s stock valued at $7,600,000 after buying an additional 3,729 shares during the period. Opus Point Partners Management LLC boosted its position in BioMarin Pharmaceutical by 10.0% in the first quarter. Opus Point Partners Management LLC now owns 48,260 shares of the company’s stock valued at $3,980,000 after buying an additional 4,390 shares during the period. Finally, AXA boosted its position in BioMarin Pharmaceutical by 10.8% in the first quarter. AXA now owns 470,874 shares of the company’s stock valued at $38,838,000 after buying an additional 45,781 shares during the period. Institutional investors and hedge funds own 93.02% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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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