BioMarin Pharmaceutical’s (BMRN) “Outperform” Rating Reaffirmed at Credit Suisse Group

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating reaffirmed by Credit Suisse Group in a research report issued to clients and investors on Thursday. They presently have a $113.00 price objective on the biotechnology company’s stock. Credit Suisse Group’s price target points to a potential upside of 26.80% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Leerink Swann reiterated an “outperform” rating and set a $142.00 price objective (up from $136.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, October 19th. SunTrust Banks set a $115.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Thursday, October 19th. Piper Jaffray Companies reiterated a “buy” rating and set a $113.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, September 21st. Wedbush upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Thursday, December 14th. Finally, Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average price target of $111.69.

BioMarin Pharmaceutical (NASDAQ BMRN) traded down $0.66 during trading on Thursday, reaching $89.12. 939,067 shares of the company were exchanged, compared to its average volume of 958,761. BioMarin Pharmaceutical has a 52-week low of $80.10 and a 52-week high of $100.51. The stock has a market capitalization of $15,651.34, a P/E ratio of -99.02 and a beta of 1.82. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) 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 firm had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. During the same period in the previous year, the firm earned $0.02 earnings per share. BioMarin Pharmaceutical’s revenue was up 19.4% compared to the same quarter last year. analysts anticipate that BioMarin Pharmaceutical will post -0.64 EPS for the current fiscal year.

In related news, EVP George Eric Davis sold 1,200 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total value of $102,768.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $88.84, for a total transaction of $333,150.00. The disclosure for this sale can be found here. Insiders sold 60,750 shares of company stock worth $5,439,788 over the last ninety days. 1.85% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in BioMarin Pharmaceutical by 7.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 320,485 shares of the biotechnology company’s stock valued at $29,828,000 after acquiring an additional 22,242 shares in the last quarter. Swiss National Bank raised its holdings in shares of BioMarin Pharmaceutical by 1.8% during the third quarter. Swiss National Bank now owns 643,200 shares of the biotechnology company’s stock worth $59,863,000 after purchasing an additional 11,600 shares during the period. Dupont Capital Management Corp raised its holdings in shares of BioMarin Pharmaceutical by 209.3% during the third quarter. Dupont Capital Management Corp now owns 5,763 shares of the biotechnology company’s stock worth $536,000 after purchasing an additional 3,900 shares during the period. KBC Group NV raised its holdings in shares of BioMarin Pharmaceutical by 8.7% during the third quarter. KBC Group NV now owns 366,872 shares of the biotechnology company’s stock worth $34,145,000 after purchasing an additional 29,264 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of BioMarin Pharmaceutical by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 190,569 shares of the biotechnology company’s stock worth $17,307,000 after purchasing an additional 2,422 shares during the period. 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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