BioMarin Pharmaceutical’s (BMRN) “Equal Weight” Rating Reaffirmed at Barclays PLC
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “equal weight” rating reaffirmed by analysts at Barclays PLC in a research report issued on Saturday. They currently have a $100.00 price objective on the biotechnology company’s stock, down from their prior price objective of $105.00. Barclays PLC’s target price suggests a potential upside of 12.01% from the company’s previous close.
Other analysts have also recently issued research reports about the stock. Cowen and Company reiterated a “buy” rating and issued a $150.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, April 24th. Vetr cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 price target for the company. in a research note on Monday, April 10th. J P Morgan Chase & Co reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Credit Suisse Group AG reiterated a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, April 28th. Finally, Deutsche Bank AG set a $105.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $111.05.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded up 1.76% on Friday, reaching $89.28. 1,137,963 shares of the company traded hands. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.49. The stock has a 50 day moving average of $90.78 and a 200 day moving average of $89.94. The stock’s market cap is $15.58 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.33. The firm had revenue of $303.70 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 28.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.53) earnings per share. On average, analysts expect that BioMarin Pharmaceutical will post ($0.85) earnings per share for the current year.
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In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $88.38, for a total value of $441,900.00. Following the transaction, the chief executive officer now directly owns 238,564 shares of the company’s stock, valued at approximately $21,084,286.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP George Eric Davis sold 2,500 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $100.34, for a total transaction 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 $8,554,085.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,024 shares of company stock worth $8,536,526. Insiders own 2.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in 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 in the last quarter. 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 in the last quarter. Rockefeller Financial Services Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Nikko Asset Management Americas Inc. purchased a new position in BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Finally, Independent Portfolio Consultants Inc. purchased 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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