BioMarin Pharmaceutical Inc. (BMRN) Receives “Outperform” Rating from Leerink Swann
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “outperform” rating reaffirmed by Leerink Swann in a report issued on Thursday. They currently have a $127.00 target price on the stock. Leerink Swann’s target price points to a potential upside of 46.20% from the stock’s current price.
Several other brokerages also recently commented on BMRN. JPMorgan Chase & Co. upped their target price on BioMarin Pharmaceutical from $120.00 to $127.00 and gave the company an “overweight” rating in a report on Friday, August 5th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of BioMarin Pharmaceutical in a report on Friday, August 19th. Goldman Sachs Group Inc. raised BioMarin Pharmaceutical to a “neutral” rating in a report on Friday, October 7th. Finally, Cowen and Company set a $150.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, September 8th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company presently has an average 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. The stock had a trading volume of 1,914,815 shares. The company’s market cap is $14.20 billion. The company has a 50 day moving average of $94.91 and a 200-day moving average of $89.49. BioMarin Pharmaceutical has a 12-month low of $62.12 and a 12-month 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) EPS for the quarter, missing the consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The company had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $278.75 million. During the same period in the prior year, the company earned ($0.51) earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts predict that BioMarin Pharmaceutical will post ($3.95) EPS for the current year.
In other BioMarin Pharmaceutical news, VP Brian Mueller sold 287 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.00, for a total value of $28,700.00. Following the completion of the transaction, the vice president now directly owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP George Eric Davis sold 2,167 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $216,700.00. Following the completion of the transaction, the executive vice president now directly owns 71,158 shares of the company’s stock, valued at $7,115,800. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. increased its position in shares of 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 last quarter. ING Groep NV purchased a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $57,357,000. Pictet Asset Management Ltd. increased its position in shares of BioMarin Pharmaceutical by 265.1% in the second quarter. Pictet Asset Management Ltd. now owns 968,295 shares of the company’s stock valued at $86,808,000 after buying an additional 703,112 shares during the last quarter. Palo Alto Investors LLC increased its position in shares of BioMarin Pharmaceutical by 29.6% in the second quarter. Palo Alto Investors LLC now owns 1,737,399 shares of the company’s stock valued at $135,170,000 after buying an additional 397,052 shares during the last quarter. Finally, Eaton Vance Management increased its position in shares of BioMarin Pharmaceutical by 728.2% in the second quarter. Eaton Vance Management now owns 414,874 shares of the company’s stock valued at $32,277,000 after buying an additional 364,780 shares during the last quarter. 93.02% of the stock is owned by hedge funds and other institutional investors.
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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