BioMarin Pharmaceutical’s (BMRN) Positive Rating Reaffirmed at Robert W. Baird
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “positive” rating reaffirmed by Robert W. Baird in a research note issued to investors on Friday.
BMRN has been the subject of several other research reports. Vetr upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $110.24 price target for the company in a research note on Tuesday, August 9th. Wedbush restated a “neutral” rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Leerink Swann restated an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 16th. Jefferies Group set a $116.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG set a $111.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $118.31.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 86.87 on Friday. BioMarin Pharmaceutical has a 12-month low of $62.12 and a 12-month high of $118.48. The stock’s market cap is $14.20 billion. The firm has a 50 day moving average price of $94.91 and a 200 day moving average price of $89.49.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly 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. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The business earned $300.10 million during the quarter, compared to analysts’ expectations of $278.75 million. During the same quarter in the prior year, the firm earned ($0.51) EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical will post ($3.95) EPS for the current year.
In related news, CEO Jean Jacques Bienaime sold 41,666 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian Mueller sold 287 shares of the stock in a transaction that occurred 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 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.
A number of institutional investors have recently made changes to their positions in BMRN. Mackay Shields raised its position in shares of BioMarin Pharmaceutical by 44.2% in the fourth quarter. Mackay Shields now owns 34,962,000 shares of the company’s stock worth $45,034,000 after buying an additional 10,723,000 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $166,099,000. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth approximately $122,313,000. Adage Capital Partners GP L.L.C. raised 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 worth $86,843,000 after buying an additional 800,000 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth approximately $57,357,000. 93.02% of the stock is owned by institutional investors.
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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