Equities research analysts at Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on BMRN. Cowen and Company reissued an “outperform” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 18th. Credit Suisse Group reissued an “outperform” rating and set a $112.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 18th. BMO Capital Markets reduced their price target on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Vetr cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $95.10 price target on the stock. in a research report on Monday, April 24th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $110.20.

Shares of BioMarin Pharmaceutical (BMRN) traded down 0.01% during mid-day trading on Wednesday, reaching $83.07. 1,300,524 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $102.06. The company’s 50 day moving average is $88.37 and its 200-day moving average is $90.03. The firm’s market cap is $14.56 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. During the same period last year, the firm earned ($2.61) earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current fiscal year.

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In other news, SVP Brian Mueller sold 2,671 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $267,100.00. Following the transaction, the senior vice president now directly owns 15,556 shares in the company, valued at approximately $1,555,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,004 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total transaction of $89,968.44. Following the transaction, the executive vice president now owns 47,944 shares in the company, valued at $4,296,261.84. The disclosure for this sale can be found here. Insiders have sold a total of 56,740 shares of company stock worth $5,200,939 over the last 90 days. 2.50% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. Jennison Associates LLC raised its position in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after buying an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after buying an additional 875,686 shares in the last quarter. Primecap Management Co. CA raised 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 in the last quarter. USS Investment Management Ltd raised its position in BioMarin Pharmaceutical by 214.7% in the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after buying an additional 743,599 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

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).

The Fly

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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