BioMarin Pharmaceutical Inc. (BMRN) PT Set at $115.00 by SunTrust Banks, Inc.
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) received a $115.00 target price from research analysts at SunTrust Banks, Inc. in a note issued to investors on Thursday. The firm presently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 31.05% from the company’s current price.
Several other brokerages also recently commented on BMRN. Sanford C. Bernstein started coverage on BioMarin Pharmaceutical in a report on Thursday, July 27th. They set a “market perform” rating and a $89.00 price target on the stock. Evercore ISI started coverage on BioMarin Pharmaceutical in a report on Wednesday, August 16th. They set an “outperform” rating and a $100.00 price target on the stock. Goldman Sachs Group Inc reiterated a “buy” rating and set a $129.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Royal Bank Of Canada started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They set a “sector perform” rating and a $93.00 price target on the stock. Finally, Barclays PLC reiterated an “equal weight” rating and set a $100.00 price target (down previously from $105.00) on shares of BioMarin Pharmaceutical in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $111.25.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.43% during trading on Thursday, reaching $87.75. The company’s stock had a trading volume of 1,329,715 shares. The company’s market cap is $15.38 billion. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $100.51. The stock has a 50-day moving average price of $92.50 and a 200 day moving average price of $90.06.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS 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 the consensus estimate of $311.41 million. During the same quarter last year, the company posted ($2.61) earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts expect that BioMarin Pharmaceutical will post ($0.73) EPS for the current year.
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In other BioMarin Pharmaceutical news, EVP Robert Baffi sold 18,415 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the completion of the transaction, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at $11,931,141.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction 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 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. Over the last three months, insiders have sold 40,686 shares of company stock valued at $3,736,318. Company insiders own 1.85% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Korea Investment CORP lifted its holdings in shares of BioMarin Pharmaceutical by 143.5% during the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 940 shares during the period. Global X Management Co. LLC lifted its holdings in shares of BioMarin Pharmaceutical by 59.7% during the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 619 shares during the period. Toronto Dominion Bank lifted its holdings in shares of BioMarin Pharmaceutical by 12.9% during the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 243 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $213,000. Finally, Cigna Investments Inc. New lifted its holdings in shares of BioMarin Pharmaceutical by 1.5% during the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 36 shares during the period. 97.29% of the stock is 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).
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