Leerink Swann Reiterates “Outperform” Rating for BioMarin Pharmaceutical Inc. (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Leerink Swann in a research report issued to clients and investors on Thursday. They currently have a $127.00 price objective on the stock. Leerink Swann’s target price suggests a potential upside of 46.20% from the company’s previous close.
Several other research analysts have also issued reports on BMRN. Goldman Sachs Group Inc. upgraded BioMarin Pharmaceutical to a “neutral” rating in a research report on Friday, October 7th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a research report on Tuesday, October 4th. Cowen and Company set a $150.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, September 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 7th. Finally, Wedbush restated a “neutral” rating and issued a $104.00 price target (down from $108.00) on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 6th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $120.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 1.23% on Thursday, reaching $86.87. The company had a trading volume of 1,914,815 shares. The firm has a 50 day moving average price of $94.91 and a 200-day moving average price of $89.49. The stock’s market capitalization is $14.20 billion. 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 released its earnings results on Thursday, August 4th. The company reported ($2.61) EPS 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%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the business posted ($0.51) earnings per share. Analysts forecast that BioMarin Pharmaceutical will post ($3.95) earnings per share for the current fiscal year.
In related news, CEO Jean Jacques Bienaime sold 41,666 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $92.72, for a total transaction of $3,863,271.52. Following the completion of the transaction, the chief executive officer now directly owns 420,250 shares of the company’s stock, valued at $38,965,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $28,700.00. Following the transaction, the vice president now directly owns 14,260 shares of the company’s stock, 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. Nisa Investment Advisors LLC boosted its position in BioMarin Pharmaceutical by 29.6% in the third quarter. Nisa Investment Advisors LLC now owns 9,620 shares of the company’s stock valued at $890,000 after buying an additional 2,200 shares during the last quarter. Creative Planning raised its position in BioMarin Pharmaceutical by 285.6% in the third quarter. Creative Planning now owns 13,786 shares of the company’s stock valued at $1,275,000 after buying an additional 10,211 shares during the period. Catawba Capital Management VA acquired a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $318,000. Independent Portfolio Consultants Inc. acquired a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $121,000. Finally, First American Trust FSB acquired a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $2,237,000. 93.02% of the stock is owned by 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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