J P Morgan Chase & Co set a $130.00 target price on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report sent to investors on Sunday, October 29th. The firm currently has a buy rating on the biotechnology company’s stock.
A number of other equities analysts have also issued reports on BMRN. Deutsche Bank AG reiterated a buy rating and issued a $119.00 target price (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Wedbush reissued a neutral rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Jefferies Group LLC reissued a buy rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, September 26th. UBS AG reaffirmed a neutral rating and set a $93.00 price objective (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Finally, Cowen and Company reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of Hold and a consensus price target of $111.55.
BioMarin Pharmaceutical (NASDAQ BMRN) traded up $0.32 during mid-day trading on Friday, reaching $82.88. 970,932 shares of the company’s stock traded hands, compared to its average volume of 1,245,065. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical has a 12-month low of $79.50 and a 12-month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. equities research analysts predict that BioMarin Pharmaceutical will post -0.66 earnings per share for the current fiscal year.
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In other news, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the transaction, the insider now owns 141,422 shares in the company, valued at approximately $12,798,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Baffi sold 18,415 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now owns 129,083 shares in the company, valued at approximately $11,931,141.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,686 shares of company stock worth $3,736,318. Company insiders own 1.85% of the company’s stock.
Several large investors have recently bought and sold shares of BMRN. Dimensional Fund Advisors LP increased its position in shares of BioMarin Pharmaceutical by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 188,147 shares of the biotechnology company’s stock worth $16,517,000 after purchasing an additional 7,501 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of BioMarin Pharmaceutical by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 275,810 shares of the biotechnology company’s stock worth $24,211,000 after purchasing an additional 21,621 shares during the last quarter. Barings LLC acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $458,000. Achmea Investment Management B.V. acquired a new position in shares of BioMarin Pharmaceutical during the 1st quarter worth approximately $224,000. Finally, First American Trust FSB increased its holdings in shares of BioMarin Pharmaceutical by 0.3% during the 2nd quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock worth $2,424,000 after acquiring an additional 73 shares during the last quarter. 96.89% of the stock is currently owned by hedge funds and other institutional investors.
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).
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