BioMarin Pharmaceutical Inc. (BMRN) Stock Rating Reaffirmed by BMO Capital Markets
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reiterated by investment analysts at BMO Capital Markets in a report released on Friday.
A number of other equities analysts have also weighed in on the company. Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 18th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target for the company in a research report on Monday, July 17th. Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. Citigroup Inc. assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a “buy” rating and a $98.00 price target for the company. Finally, BidaskClub lowered BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $109.09.
BioMarin Pharmaceutical (NASDAQ BMRN) traded up 0.75% during mid-day trading on Friday, hitting $91.91. 1,740,579 shares of the stock were exchanged. The company’s market capitalization is $16.11 billion. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $101.27. The stock has a 50 day moving average price of $86.36 and a 200 day moving average price of $89.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued 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 5.31% and a negative net margin of 11.60%. 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 firm earned ($2.61) earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current fiscal year.
In other news, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the sale, the senior vice president now directly owns 15,556 shares in the company, valued at approximately $1,555,600. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $90.00, for a total value of $1,350,000.00. Following the completion of the sale, the insider now owns 141,422 shares in the company, valued at $12,727,980. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,515 shares of company stock worth $2,568,030. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. Nationwide Fund Advisors boosted its position in shares of BioMarin Pharmaceutical by 3.4% during the first quarter. Nationwide Fund Advisors now owns 30,800 shares of the biotechnology company’s stock valued at $2,704,000 after purchasing an additional 1,000 shares in the last quarter. Comerica Bank boosted its position in shares of BioMarin Pharmaceutical by 2.6% during the first quarter. Comerica Bank now owns 7,282 shares of the biotechnology company’s stock valued at $701,000 after purchasing an additional 183 shares in the last quarter. World Asset Management Inc boosted its position in shares of BioMarin Pharmaceutical by 27.8% during the first quarter. World Asset Management Inc now owns 7,709 shares of the biotechnology company’s stock valued at $677,000 after purchasing an additional 1,679 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of BioMarin Pharmaceutical by 11.3% during the first quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock valued at $95,504,000 after purchasing an additional 110,504 shares in the last quarter. Finally, Gabelli Funds LLC bought a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $851,000. Institutional investors own 97.42% 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).
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