Analysts at Royal Bank Of Canada initiated coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “sector perform” rating on the biotechnology company’s stock.

Several other research firms have also weighed in on BMRN. Sanford C. Bernstein started coverage on BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a “market perform” rating and a $89.00 price objective on the stock. Evercore ISI started coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price objective on the stock. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $115.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Barclays PLC reiterated an “equal weight” rating and issued a $100.00 price objective (down from $105.00) on shares of BioMarin Pharmaceutical in a research note on Saturday, July 22nd. Finally, UBS AG reiterated a “neutral” rating and issued a $93.00 price objective (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $110.48.

Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded down 1.62% during mid-day trading on Thursday, hitting $91.25. The company had a trading volume of 1,270,876 shares. The firm’s market cap is $15.99 billion. The firm’s 50 day moving average is $86.36 and its 200-day moving average is $89.56. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $101.27.

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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $311.41 million. During the same period in the prior year, the company posted ($2.61) EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that BioMarin Pharmaceutical will post ($0.70) EPS for the current year.

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In other news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $90.00, for a total value of $337,500.00. Following the transaction, the director now owns 19,660 shares of the company’s stock, valued at approximately $1,769,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian Mueller sold 2,671 shares of the 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 directly owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,265 shares of company stock worth $2,905,530. Company insiders own 2.50% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Cigna Investments Inc. New lifted its stake in shares of BioMarin Pharmaceutical by 1.5% in the 2nd quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 36 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock valued at $450,000 after purchasing an additional 50 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 54 shares during the period. NGAM Advisors L.P. lifted its stake in shares of BioMarin Pharmaceutical by 0.4% in the 2nd quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after purchasing an additional 55 shares during the period. Finally, First American Trust FSB lifted its stake in shares of BioMarin Pharmaceutical by 0.3% in the 2nd quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock valued at $2,424,000 after purchasing an additional 73 shares during the period. 97.42% of the stock is currently owned by 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).

The Fly

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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