BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $131.00 to $129.00 in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 40.83% from the stock’s previous close.
A number of other analysts also recently issued reports on BMRN. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Jefferies Group restated a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Zacks Investment Research downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Credit Suisse Group restated an “outperform” rating and issued a $113.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, January 18th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $114.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $111.60.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up $1.04 during midday trading on Wednesday, hitting $91.60. The stock had a trading volume of 822,492 shares, compared to its average volume of 1,220,000. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41. The company has a market cap of $16,090.00, a P/E ratio of -110.36 and a beta of 1.81. BioMarin Pharmaceutical has a 52-week low of $80.10 and a 52-week high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. The firm had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. equities analysts expect that BioMarin Pharmaceutical will post -0.63 EPS for the current fiscal year.
In related news, EVP George Eric Davis sold 1,200 shares of the firm’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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Elaine J. Heron sold 800 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $88.90, for a total value of $71,120.00. Following the sale, the director now directly owns 38,385 shares in the company, valued at approximately $3,412,426.50. The disclosure for this sale can be found here. In the last 90 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 hedge funds have recently modified their holdings of BMRN. First Manhattan Co. lifted its holdings in shares of BioMarin Pharmaceutical by 104.2% during the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 625 shares during the period. Toronto Dominion Bank lifted its holdings 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 worth $193,000 after purchasing an additional 243 shares during the period. Commerce Bank acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $209,000. Teacher Retirement System of Texas acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $220,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $220,000. 99.02% of the stock is currently owned by institutional investors.
WARNING: “BioMarin Pharmaceutical (BMRN) Price Target Lowered to $129.00 at JPMorgan Chase & Co.” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/01/28/biomarin-pharmaceutical-bmrn-price-target-lowered-to-129-00-at-jpmorgan-chase-co.html.
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).