Wedbush reaffirmed their buy rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Monday, December 23rd, TipRanks reports. They currently have a $158.00 price target on the biotechnology company’s stock.
A number of other equities research analysts also recently commented on the company. Nomura cut their price objective on BioMarin Pharmaceutical from $93.00 to $77.00 in a research report on Thursday, October 24th. Bank of America reiterated a buy rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, December 11th. Canaccord Genuity cut their price objective on BioMarin Pharmaceutical from $117.00 to $108.00 and set a buy rating on the stock in a report on Monday, October 28th. SunTrust Banks assumed coverage on shares of BioMarin Pharmaceutical in a research report on Tuesday, November 12th. They issued a buy rating and a $110.00 target price on the stock. Finally, Cantor Fitzgerald restated a buy rating and issued a $129.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $111.53.
Shares of BMRN traded down $0.15 during midday trading on Monday, reaching $88.87. The stock had a trading volume of 925,422 shares, compared to its average volume of 1,472,246. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53. The firm’s 50 day moving average price is $83.53 and its 200-day moving average price is $77.33. BioMarin Pharmaceutical has a 52 week low of $62.88 and a 52 week high of $100.13. The company has a market capitalization of $16.36 billion, a P/E ratio of -269.30 and a beta of 1.32.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.25. The company had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. On average, equities analysts forecast that BioMarin Pharmaceutical will post 0.01 earnings per share for the current year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $83.36, for a total value of $312,600.00. Following the sale, the director now directly owns 27,340 shares in the company, valued at $2,279,062.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction on Friday, October 25th. The shares were sold at an average price of $69.55, for a total value of $347,750.00. Following the transaction, the chief executive officer now directly owns 332,520 shares of the company’s stock, valued at $23,126,766. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,940 shares of company stock valued at $2,374,645. Corporate insiders own 1.97% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the second quarter worth approximately $258,055,000. York Capital Management Global Advisors LLC bought a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $95,648,000. Manning & Napier Group LLC increased its holdings in BioMarin Pharmaceutical by 50.7% during the 4th quarter. Manning & Napier Group LLC now owns 1,100,191 shares of the biotechnology company’s stock valued at $93,020,000 after purchasing an additional 370,098 shares in the last quarter. Scout Investments Inc. increased its holdings in BioMarin Pharmaceutical by 246.0% during the 4th quarter. Scout Investments Inc. now owns 401,147 shares of the biotechnology company’s stock valued at $33,917,000 after purchasing an additional 285,203 shares in the last quarter. Finally, Marshall Wace LLP raised its position in BioMarin Pharmaceutical by 59,167.2% in the 2nd quarter. Marshall Wace LLP now owns 282,112 shares of the biotechnology company’s stock valued at $24,162,000 after purchasing an additional 281,636 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
