Morgan Stanley reissued their overweight rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report released on Friday, October 6th. The brokerage currently has a $117.00 price target on the biotechnology company’s stock, up from their prior price target of $115.00.
Several other research analysts also recently commented on BMRN. Deutsche Bank AG reiterated a buy rating and issued a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, August 9th. Wedbush reiterated a neutral rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Jefferies Group LLC reiterated a buy rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, September 26th. UBS AG restated a neutral rating and set a $93.00 price target (up previously from $92.00) on shares of BioMarin Pharmaceutical in a report on Thursday, August 3rd. Finally, Cowen and Company restated a buy rating on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $109.48.
BioMarin Pharmaceutical (BMRN) opened at 94.66 on Friday. The firm’s market cap is $16.59 billion. BioMarin Pharmaceutical has a one year low of $78.42 and a one year high of $100.51. The stock has a 50 day moving average of $92.01 and a 200 day moving average of $90.00.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted ($2.61) earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current year.
In related news, EVP Robert Baffi sold 18,415 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 129,083 shares of the company’s stock, valued at approximately $11,931,141.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,686 shares of company stock valued at $3,736,318. 1.85% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in BioMarin Pharmaceutical by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 125 shares during the period. Global X Management Co. LLC raised its position in BioMarin Pharmaceutical by 59.7% in the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 619 shares during the period. Korea Investment CORP raised its position in BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 940 shares during the period. Mutual of America Capital Management LLC raised its position in BioMarin Pharmaceutical by 20.0% in the 1st quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after purchasing an additional 344 shares during the period. Finally, Toronto Dominion Bank raised its position in BioMarin Pharmaceutical by 12.9% in the 2nd 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. 97.29% of the stock is currently owned by institutional investors.
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).
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