BioMarin Pharmaceutical’s (BMRN) “Buy” Rating Reaffirmed at Piper Jaffray Companies

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “buy” rating restated by equities research analysts at Piper Jaffray Companies in a report issued on Thursday. They currently have a $114.00 target price on the biotechnology company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 26.98% from the company’s current price.

Several other research analysts have also recently issued reports on BMRN. Zacks Investment Research cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group reissued an “outperform” rating and issued a $113.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Jefferies Group reissued a “buy” rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. BMO Capital Markets reissued a “buy” rating and issued a $117.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, October 20th. Finally, SunTrust Banks set a $115.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $111.69.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded up $0.14 during trading hours on Thursday, reaching $89.78. The company’s stock had a trading volume of 1,166,909 shares, compared to its average volume of 1,279,833. The stock has a market capitalization of $15,770.00, a PE ratio of -108.17 and a beta of 1.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical has a fifty-two week low of $80.10 and a fifty-two week high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $0.02 earnings per share. equities analysts forecast that BioMarin Pharmaceutical will post -0.64 earnings per share for the current year.

In related news, CEO Jean Jacques Bienaime sold 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $89.75, for a total transaction of $1,795,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $89.23, for a total value of $1,338,450.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,750 shares of company stock worth $5,439,788. Insiders own 1.85% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its stake in BioMarin Pharmaceutical by 1.8% during the 2nd 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 period. Comerica Bank increased its stake in BioMarin Pharmaceutical by 1.0% in the 2nd quarter. Comerica Bank now owns 7,358 shares of the biotechnology company’s stock worth $662,000 after acquiring an additional 76 shares during the last quarter. Fiera Capital Corp increased its stake in BioMarin Pharmaceutical by 1.6% in the 2nd quarter. Fiera Capital Corp now owns 6,613 shares of the biotechnology company’s stock worth $601,000 after acquiring an additional 101 shares during 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 worth $193,000 after acquiring an additional 243 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its stake in BioMarin Pharmaceutical by 7.1% in the 2nd quarter. ETRADE Capital Management LLC now owns 4,528 shares of the biotechnology company’s stock worth $411,000 after acquiring an additional 300 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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