Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus recommendation of “Buy” by the twenty-two brokerages that are covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $107.67.
A number of equities research analysts recently commented on BMRN shares. Citigroup restated a “buy” rating and issued a $95.00 price objective (down previously from $120.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. SunTrust Banks started coverage on BioMarin Pharmaceutical in a research report on Tuesday, November 12th. They set a “buy” rating and a $110.00 target price on the stock. Piper Jaffray Companies set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, September 13th. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Nomura reduced their price target on BioMarin Pharmaceutical from $93.00 to $77.00 in a report on Thursday, October 24th.
NASDAQ:BMRN traded up $1.06 during trading hours on Wednesday, reaching $81.29. 1,057,376 shares of the company’s stock were exchanged, compared to its average volume of 1,239,197. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of -246.33, a P/E/G ratio of 125.07 and a beta of 1.31. The company has a 50-day moving average of $74.73 and a 200 day moving average of $77.43. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27. BioMarin Pharmaceutical has a 1-year low of $62.88 and a 1-year high of $100.13.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.25. The company had revenue of $461.10 million during the quarter, compared to analysts’ expectations 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 was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.07) EPS. Research analysts forecast that BioMarin Pharmaceutical will post 0.01 EPS for the current fiscal year.
In other news, EVP George Eric Davis sold 3,190 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total transaction of $254,115.40. Following the sale, the executive vice president now owns 68,709 shares of the company’s stock, valued at approximately $5,473,358.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $69.55, for a total value of $347,750.00. Following the completion of the sale, the chief executive officer now owns 332,520 shares in the company, valued at approximately $23,126,766. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,940 shares of company stock valued at $1,657,128. 1.97% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. CWM Advisors LLC grew its holdings in BioMarin Pharmaceutical by 12.6% in the second quarter. CWM Advisors LLC now owns 5,684 shares of the biotechnology company’s stock valued at $487,000 after purchasing an additional 635 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of BioMarin Pharmaceutical by 43.2% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,320 shares of the biotechnology company’s stock worth $199,000 after buying an additional 700 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in BioMarin Pharmaceutical by 3.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 11,527 shares of the biotechnology company’s stock valued at $987,000 after acquiring an additional 383 shares during the last quarter. Kistler Tiffany Companies LLC grew its stake in BioMarin Pharmaceutical by 627.9% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 1,980 shares of the biotechnology company’s stock valued at $170,000 after acquiring an additional 1,708 shares during the last quarter. Finally, Rhenman & Partners Asset Management AB increased its holdings in BioMarin Pharmaceutical by 21.5% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 281,349 shares of the biotechnology company’s stock valued at $24,098,000 after acquiring an additional 49,800 shares in the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
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.
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