BioMarin Pharmaceutical Inc. Expected to Post Q3 2017 Earnings of ($0.08) Per Share (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at SunTrust Banks upped their Q3 2017 EPS estimates for shares of BioMarin Pharmaceutical in a research note issued on Wednesday. SunTrust Banks analyst E. Nash now expects that the biotechnology company will earn ($0.08) per share for the quarter, up from their previous forecast of ($0.24). SunTrust Banks has a “Buy” rating and a $115.00 price target on the stock. SunTrust Banks also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.40) EPS and FY2017 earnings at ($0.80) EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. During the same quarter in the prior year, the business earned ($2.61) earnings per share. BioMarin Pharmaceutical’s revenue was up 5.8% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “BioMarin Pharmaceutical Inc. Expected to Post Q3 2017 Earnings of ($0.08) Per Share (BMRN)” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.americanbankingnews.com/2017/08/07/biomarin-pharmaceutical-inc-expected-to-post-q3-2017-earnings-of-0-08-per-share-bmrn.html.
A number of other equities analysts also recently commented on BMRN. Vetr downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 target price for the company. in a research note on Monday, April 10th. Cowen and Company reiterated an “outperform” rating and set 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 set a $112.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 18th. BMO Capital Markets lowered 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. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and a consensus price target of $110.20.
Shares of BioMarin Pharmaceutical (BMRN) opened at 89.70 on Monday. The stock’s market cap is $15.72 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 price is $90.43 and its 200 day moving average price is $90.03.
In other news, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $91.73, for a total value of $458,650.00. Following the completion of the sale, the chief executive officer now directly owns 238,564 shares of the company’s stock, valued at $21,883,475.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP George Eric Davis sold 9,844 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at $9,024,855. The disclosure for this sale can be found here. Insiders sold 61,740 shares of company stock valued at $5,659,589 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted 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. Nikko Asset Management Americas Inc. purchased a new position in BioMarin Pharmaceutical during the first quarter valued at about $114,000. Global X Management Co. LLC boosted its position in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Korea Investment CORP boosted its position in BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. 96.82% of the stock is owned by institutional investors and hedge funds.
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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