BioMarin Pharmaceutical (BMRN) Lowered to “Strong Sell” at BidaskClub

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.

A number of other research firms have also commented on BMRN. Goldman Sachs Group reaffirmed a “buy” rating and set a $129.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a report on Tuesday. Wedbush reaffirmed a “neutral” rating and set a $108.00 target price on shares of BioMarin Pharmaceutical in a report on Wednesday, November 15th. JPMorgan Chase & Co. set a $131.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, November 27th. Finally, BMO Capital Markets lifted their target price on shares of BioMarin Pharmaceutical from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $111.69.

Shares of BioMarin Pharmaceutical (BMRN) traded down $0.66 during trading on Friday, hitting $89.12. 984,539 shares of the company were exchanged, compared to its average volume of 1,310,000. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $15,540.00, a price-to-earnings ratio of -107.37 and a beta of 1.81. 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 issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The business had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. During the same quarter last year, the business posted $0.02 earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities analysts anticipate that BioMarin Pharmaceutical will post -0.64 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, Director Elaine J. Heron sold 800 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $88.90, for a total transaction of $71,120.00. Following the sale, the director now directly owns 38,385 shares of the company’s stock, valued at approximately $3,412,426.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Eric Davis sold 1,200 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $85.64, for a total transaction of $102,768.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,750 shares of company stock worth $5,439,788 over the last three months. Insiders own 1.85% of the company’s stock.

A number of large investors have recently modified their holdings of BMRN. Comerica Bank lifted its position in BioMarin Pharmaceutical by 1.0% during the 2nd quarter. Comerica Bank now owns 7,358 shares of the biotechnology company’s stock worth $662,000 after buying an additional 76 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of BioMarin Pharmaceutical by 2.4% during the 2nd quarter. Alliancebernstein L.P. now owns 116,376 shares of the biotechnology company’s stock worth $10,569,000 after purchasing an additional 2,756 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 4.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 43,456 shares of the biotechnology company’s stock worth $3,946,000 after purchasing an additional 1,900 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of BioMarin Pharmaceutical by 27.8% during the 2nd quarter. Rafferty Asset Management LLC now owns 16,160 shares of the biotechnology company’s stock worth $1,468,000 after purchasing an additional 3,511 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $1,253,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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