BioMarin Pharmaceutical’s (NASDAQ:BMRN) “Buy” Rating Reaffirmed at Cowen and Company
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reiterated by Cowen and Company in a research report issued to clients and investors on Tuesday.
The analysts wrote, “New data include 52 wk follow-up on all patients at BMN270’s 6e13 vg/kg dose, and.””
A number of other research firms have also recently commented on BMRN. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a research note on Monday, May 1st. Vetr cut BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target on the stock. in a research note on Monday, April 10th. Credit Suisse Group restated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Finally, Wedbush restated a “hold” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, May 8th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and a consensus target price of $111.69.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 1.09% during midday trading on Tuesday, reaching $90.78. The company’s stock had a trading volume of 1,556,431 shares. The company’s market capitalization is $15.84 billion. BioMarin Pharmaceutical has a one year low of $78.42 and a one year high of $102.49. The stock’s 50-day moving average is $90.64 and its 200-day moving average is $89.40.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The company had revenue of $303.70 million for the quarter, compared to analysts’ expectations of $292.58 million. During the same period in the prior year, the firm earned ($0.53) earnings per share. The firm’s revenue was up 28.3% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical will post ($0.81) earnings per share for the current fiscal year.
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In related news, CEO Jean Jacques Bienaime sold 5,000 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $88.38, for a total value of $441,900.00. Following the transaction, the chief executive officer now owns 238,564 shares of the company’s stock, valued at $21,084,286.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George Eric Davis sold 2,500 shares of the stock in a transaction on Friday, May 5th. The shares were sold at an average price of $100.34, for a total value of $250,850.00. Following the completion of the transaction, the executive vice president now directly owns 85,251 shares in the company, valued at approximately $8,554,085.34. The disclosure for this sale can be found here. Insiders sold 92,024 shares of company stock worth $8,536,526 in the last three months. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares during the period. Cornerstone Advisors Inc. raised its position in BioMarin Pharmaceutical by 22.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,159 shares of the biotechnology company’s stock valued at $107,000 after buying an additional 209 shares during the period. Rockefeller Financial Services Inc. acquired a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Nikko Asset Management Americas Inc. acquired a new position in BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Finally, Independent Portfolio Consultants Inc. acquired a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $121,000. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
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