Leerink Swann Equities Analysts Decrease Earnings Estimates for BioMarin Pharmaceutical Inc. (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at Leerink Swann reduced their Q3 2017 earnings per share (EPS) estimates for shares of BioMarin Pharmaceutical in a report released on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the biotechnology company will post earnings per share of ($0.08) for the quarter, down from their prior estimate of ($0.02). Leerink Swann currently has a “Outperform” rating and a $142.00 target price on the stock. Leerink Swann also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.32) EPS and FY2017 earnings at ($0.71) EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($2.61) EPS. TRADEMARK VIOLATION WARNING: This article was originally reported by American Banking News and is the property of of American Banking News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/10/23/leerink-swann-equities-analysts-decrease-earnings-estimates-for-biomarin-pharmaceutical-inc-bmrn.html.
A number of other research analysts also recently issued reports on the company. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a report on Monday, July 17th. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They set an “overweight” rating and a $113.00 price target on the stock. Citigroup Inc. assumed coverage on BioMarin Pharmaceutical in a report on Thursday, August 31st. They set a “buy” rating and a $98.00 price target on the stock. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set a “sector perform” rating and a $93.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $111.25.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 87.75 on Monday. The stock’s market capitalization is $15.38 billion. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $100.51. The company has a 50-day moving average price of $92.50 and a 200-day moving average price of $90.06.
In other news, EVP Robert Baffi sold 18,415 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at approximately $11,931,141.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 141,422 shares of the company’s stock, valued at $12,798,691. 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 ninety days. Corporate insiders own 1.85% of the company’s stock.
Large investors have recently bought and sold shares of the company. Jennison Associates LLC raised its holdings in shares of BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after buying an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after buying an additional 875,686 shares during the period. USS Investment Management Ltd raised its holdings in shares of BioMarin Pharmaceutical by 214.7% in the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock worth $98,988,000 after buying an additional 743,599 shares during the period. Vanguard Group Inc. raised its holdings in shares of BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after buying an additional 642,623 shares during the period. Finally, Manning & Napier Advisors LLC raised its holdings in shares of BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the period. 97.29% of the stock is owned by institutional investors and hedge funds.
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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