BioMarin Pharmaceutical’s (BMRN) Positive Rating Reaffirmed at Robert W. Baird
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “positive” rating restated by stock analysts at Robert W. Baird in a research report issued on Friday.
Other equities research analysts have also recently issued reports about the company. Credit Suisse Group AG set a $111.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, July 28th. Cowen and Company reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. William Blair set a $116.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, July 28th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Wednesday, July 13th. Finally, Barclays PLC reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, June 16th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and a consensus target price of $118.31.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 86.87 on Friday. The firm has a 50-day moving average price of $94.91 and a 200 day moving average price of $89.49. BioMarin Pharmaceutical has a 12 month low of $62.12 and a 12 month high of $118.48. The firm’s market capitalization is $14.20 billion.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The company had revenue of $300.10 million for the quarter, compared to analyst estimates of $278.75 million. During the same period last year, the firm earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($3.95) EPS for the current year.
In related news, VP Brian Mueller sold 287 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.00, for a total value of $28,700.00. Following the completion of the sale, the vice president now directly owns 14,260 shares in the company, valued at $1,426,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel K. Spiegelman sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $99.33, for a total value of $397,320.00. Following the completion of the sale, the chief financial officer now owns 42,944 shares of the company’s stock, valued at $4,265,627.52. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its stake 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 last quarter. Candriam Luxembourg S.C.A. boosted its stake in BioMarin Pharmaceutical by 18.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 247,100 shares of the company’s stock valued at $19,225,000 after buying an additional 38,628 shares during the last quarter. ING Groep NV acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at $57,357,000. Strs Ohio boosted its stake in BioMarin Pharmaceutical by 50.7% in the second quarter. Strs Ohio now owns 491,556 shares of the company’s stock valued at $38,243,000 after buying an additional 165,472 shares during the last quarter. Finally, State Street Corp boosted its stake in BioMarin Pharmaceutical by 5.6% in the first quarter. State Street Corp now owns 3,286,743 shares of the company’s stock valued at $271,074,000 after buying an additional 175,733 shares during the last quarter. 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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