FY2018 Earnings Forecast for BioMarin Pharmaceutical Inc. Issued By Leerink Swann (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at Leerink Swann upped their FY2018 earnings estimates for BioMarin Pharmaceutical in a report issued on Monday. Leerink Swann analyst J. Schwartz now anticipates that the biotechnology company will post earnings per share of $0.46 for the year, up from their prior forecast of $0.45. Leerink Swann currently has a “Buy” rating on the stock. Leerink Swann also issued estimates for BioMarin Pharmaceutical’s FY2019 earnings at $1.00 EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $303.70 million for the quarter, compared to analyst estimates of $292.58 million. During the same quarter in the prior year, the firm posted ($0.53) EPS. The business’s quarterly revenue was up 28.3% compared to the same quarter last year.
Several other equities analysts have also weighed in on BMRN. UBS AG initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, March 29th. They issued a “neutral” rating and a $92.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $115.00 price target (up from $111.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, July 13th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $115.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, July 14th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Cowen and Company reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $111.29.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.52% during mid-day trading on Thursday, hitting $87.68. The company’s stock had a trading volume of 619,417 shares. The company’s market cap is $15.30 billion. The stock has a 50-day moving average of $90.78 and a 200-day moving average of $89.95. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $102.49.
In other news, SVP Brian Mueller sold 2,671 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the transaction, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 9,844 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the transaction, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. Insiders have sold a total of 92,024 shares of company stock valued at $8,536,526 in the last ninety days. Company insiders own 2.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BMRN. Grandfield & Dodd LLC raised its position in shares of BioMarin Pharmaceutical by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 5,727 shares of the biotechnology company’s stock worth $503,000 after buying an additional 65 shares during the last quarter. First American Trust FSB raised its position in shares of BioMarin Pharmaceutical by 0.3% in the second quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock worth $2,424,000 after buying an additional 73 shares during the last quarter. Creative Planning raised its position in shares of BioMarin Pharmaceutical by 0.7% in the first quarter. Creative Planning now owns 13,440 shares of the biotechnology company’s stock worth $1,180,000 after buying an additional 100 shares during the last quarter. Eqis Capital Management Inc. raised its position in shares of BioMarin Pharmaceutical by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 18,531 shares of the biotechnology company’s stock worth $1,683,000 after buying an additional 106 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of 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. 96.50% of the stock is 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).
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