BioMarin Pharmaceutical Inc. (BMRN) Receives “Buy” Rating from Leerink Swann
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reiterated by Leerink Swann in a research report issued on Tuesday.
Several other equities analysts also recently weighed in on BMRN. Vetr upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $100.06 target price for the company in a research note on Monday, March 27th. UBS Group AG initiated coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, March 29th. They issued a “neutral” rating and a $92.00 target price for the company. Cowen and Company reiterated an “outperform” rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. Credit Suisse Group reiterated an “outperform” rating and issued a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. Finally, BMO Capital Markets reduced their target price on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $111.29.
BioMarin Pharmaceutical (BMRN) traded down 0.36% during mid-day trading on Tuesday, reaching $86.67. 1,856,370 shares of the company’s stock were exchanged. The stock’s market cap is $15.12 billion. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.49. The company has a 50-day moving average of $90.64 and a 200-day moving average of $89.40.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.33. The firm had revenue of $303.70 million during the quarter, compared to the consensus estimate of $292.58 million. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.53) earnings per share. Equities research analysts anticipate that BioMarin Pharmaceutical will post ($0.82) earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This article was reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/07/18/biomarin-pharmaceutical-inc-bmrn-receives-buy-rating-from-leerink-swann.html.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $94.00, for a total transaction of $470,000.00. Following the transaction, the chief executive officer now directly owns 243,194 shares of the company’s stock, valued at $22,860,236. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Robert Ajer sold 302 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $96.74, for a total transaction of $29,215.48. Following the transaction, the executive vice president now directly owns 51,834 shares in the company, valued at $5,014,421.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,024 shares of company stock valued at $8,536,526. 2.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after buying an additional 826,320 shares during the period. Jennison Associates LLC increased its position in BioMarin Pharmaceutical by 6.7% in the first quarter. Jennison Associates LLC now owns 9,871,207 shares of the biotechnology company’s stock valued at $866,495,000 after buying an additional 617,001 shares during the period. Vanguard Group Inc. increased its position in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock valued at $1,202,796,000 after buying an additional 495,118 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in BioMarin Pharmaceutical during the first quarter valued at approximately $37,416,000. Finally, Marshall Wace North America L.P. acquired a new position in BioMarin Pharmaceutical during the first quarter valued at approximately $37,416,000. 96.50% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
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).
Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.