BioMarin Pharmaceutical Inc. (BMRN) Rating Reiterated by Leerink Swann
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “outperform” rating restated by equities researchers at Leerink Swann in a research note issued to investors on Thursday, The Fly reports. They presently have a $142.00 price objective on the biotechnology company’s stock, up from their previous price objective of $136.00. Leerink Swann’s price objective indicates a potential upside of 60.23% from the company’s previous close.
Several other research firms have also recently weighed in on BMRN. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Morgan Stanley restated an “overweight” rating and issued a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Jefferies Group LLC restated a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.17.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.15% during mid-day trading on Thursday, hitting $88.49. 591,718 shares of the stock were exchanged. The firm’s market cap is $15.51 billion. The company’s 50-day moving average is $92.56 and its 200-day moving average is $90.07. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted 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. The firm had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted ($2.61) EPS. Equities research analysts anticipate that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.
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In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $90.50, for a total value of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,686 shares of company stock worth $3,736,318. Insiders own 1.85% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Asset Management Company LTD lifted its stake in BioMarin Pharmaceutical by 0.3% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,794 shares of the biotechnology company’s stock valued at $1,130,000 after buying an additional 30 shares in the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 1.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 3,110 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 35 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of BioMarin Pharmaceutical by 1.5% in the second 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 last quarter. Daiwa Securities Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.0% in the second 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 last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of BioMarin Pharmaceutical by 1.8% in the second 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 last quarter. 97.29% 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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