BioMarin Pharmaceutical Inc. (BMRN) Given Average Recommendation of “Buy” by Brokerages
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus recommendation of “Buy” by the twenty-seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $106.45.
BMRN has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $117.00 target price (up from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $129.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Deutsche Bank AG reissued a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, August 3rd. Royal Bank Of Canada initiated coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 target price for the company. Finally, Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a research report on Monday, July 17th.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded up 0.21% during midday trading on Thursday, reaching $95.13. The company had a trading volume of 1,286,640 shares. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $100.51. The company’s 50 day moving average price is $90.97 and its 200-day moving average price is $89.90. The company’s market capitalization is $16.67 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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. The firm had revenue of $317.50 million during the quarter, compared to analysts’ expectations 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 revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.61) EPS. On average, equities research analysts predict that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.
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In related news, insider Henry J. Fuchs sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the transaction, the insider now directly owns 141,422 shares of the company’s stock, valued at approximately $12,798,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares of the company’s stock, valued at $1,794,171.60. The disclosure for this sale can be found here. Insiders sold a total of 40,686 shares of company stock valued at $3,736,318 over the last three months. Insiders own 1.85% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Korea Investment CORP increased its stake in BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 940 shares in the last quarter. Global X Management Co. LLC increased its stake in BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 619 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock valued at $181,000 after purchasing an additional 344 shares in the last quarter. Toronto Dominion Bank increased its stake in BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 243 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $213,000. 97.47% of the stock is 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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