Equities Analysts Offer Predictions for BioMarin Pharmaceutical Inc.’s Q3 2017 Earnings (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Jefferies Group raised their Q3 2017 earnings per share estimates for BioMarin Pharmaceutical in a report released on Wednesday. Jefferies Group analyst E. Yang now expects that the biotechnology company will post earnings of ($0.06) per share for the quarter, up from their prior estimate of ($0.24). Jefferies Group has a “Buy” rating and a $116.00 price objective on the stock. Jefferies Group also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.33) EPS, FY2017 earnings at ($0.70) EPS, FY2018 earnings at ($0.37) EPS, FY2020 earnings at $2.63 EPS and FY2021 earnings at $3.93 EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data 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. The firm had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.61) earnings per share.
BMRN has been the subject of several other research reports. Deutsche Bank AG set a $105.00 price target on BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Friday, April 28th. BMO Capital Markets cut their price target on BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. J P Morgan Chase & Co restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Monday, May 1st. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target for the company in a research note on Monday, July 17th. Finally, Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and an average target price of $110.20.
BioMarin Pharmaceutical (NASDAQ BMRN) opened at 89.70 on Monday. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $102.49. The company’s market cap is $15.72 billion. The stock has a 50 day moving average price of $90.43 and a 200-day moving average price of $90.03.
In other news, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $91.73, for a total transaction of $458,650.00. Following the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at approximately $21,883,475.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.00, for a total transaction of $337,500.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,769,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,740 shares of company stock worth $5,659,589. Corporate insiders own 2.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake 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 last quarter. Nikko Asset Management Americas Inc. purchased a new stake in BioMarin Pharmaceutical during the first quarter valued at approximately $114,000. Korea Investment CORP raised its stake 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 during the last quarter. Global X Management Co. LLC raised its stake 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 during the last quarter. Finally, Toronto Dominion Bank raised its stake 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 during the last quarter. 96.82% 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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