BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at Gabelli dropped their FY2020 earnings estimates for shares of BioMarin Pharmaceutical in a research report issued on Friday. Gabelli analyst J. He now anticipates that the biotechnology company will post earnings of $2.45 per share for the year, down from their previous estimate of $2.50. Gabelli also issued estimates for BioMarin Pharmaceutical’s FY2021 earnings at $3.15 EPS.

Several other brokerages have also weighed in on BMRN. Morgan Stanley reissued an “overweight” rating and issued a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets reissued a “buy” rating and issued a $117.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $124.00 price objective (up previously from $114.00) on shares of BioMarin Pharmaceutical in a report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Hold” and an average price target of $111.55.

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Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.72% during midday trading on Monday, hitting $82.55. 525,002 shares of the stock were exchanged. The firm’s market capitalization is $14.47 billion. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $100.51. The stock’s 50-day moving average price is $91.65 and its 200-day moving average price is $89.97.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.61%. The firm had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the business posted $0.02 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year.

Several institutional investors and hedge funds have recently bought and sold shares of BMRN. Korea Investment CORP increased its stake 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 buying an additional 940 shares during the period. Global X Management Co. LLC increased its stake in shares of BioMarin Pharmaceutical by 16.8% during the second quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 279 shares during the period. Toronto Dominion Bank increased its stake 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 buying an additional 243 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $213,000. Finally, Cigna Investments Inc. New increased its stake 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 buying an additional 36 shares during the period. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $334,495.00. Following the transaction, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at approximately $4,683,405. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The stock was 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 in the company, 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 worth $3,736,318 over the last ninety days. Insiders own 1.85% of the company’s stock.

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).

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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