Several other analysts have also recently commented on the company. Leerink Swann reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 18th. Zacks Investment Research raised BioMarin Pharmaceutical from a hold rating to a strong-buy rating and set a $105.00 target price for the company in a research report on Monday, July 17th. Cowen and Company reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 11th. Citigroup Inc. initiated coverage on BioMarin Pharmaceutical in a research report on Thursday, August 31st. They issued a buy rating and a $98.00 target price for the company. Finally, BidaskClub cut BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $109.09.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.75% during trading on Friday, reaching $91.91. The company had a trading volume of 1,764,123 shares. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $101.27. The company has a 50-day moving average price of $86.49 and a 200 day moving average price of $89.56. The stock’s market cap is $16.11 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. BioMarin Pharmaceutical’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($2.61) earnings per share. On average, analysts anticipate that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current year.
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In other news, EVP George Eric Davis sold 9,844 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $96.60, for a total value of $950,930.40. Following the transaction, the executive vice president now directly owns 93,425 shares in the company, valued at $9,024,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the transaction, the senior vice president now owns 15,556 shares in the company, valued at $1,555,600. The disclosure for this sale can be found here. Insiders sold 27,515 shares of company stock worth $2,568,030 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of BMRN. Nationwide Fund Advisors increased its stake in shares of BioMarin Pharmaceutical by 3.4% in the first quarter. Nationwide Fund Advisors now owns 30,800 shares of the biotechnology company’s stock worth $2,704,000 after purchasing an additional 1,000 shares during the period. Comerica Bank increased its stake in shares of BioMarin Pharmaceutical by 2.6% in the first quarter. Comerica Bank now owns 7,282 shares of the biotechnology company’s stock worth $701,000 after purchasing an additional 183 shares during the period. World Asset Management Inc increased its stake in shares of BioMarin Pharmaceutical by 27.8% in the first quarter. World Asset Management Inc now owns 7,709 shares of the biotechnology company’s stock worth $677,000 after purchasing an additional 1,679 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of BioMarin Pharmaceutical by 11.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,087,995 shares of the biotechnology company’s stock worth $95,504,000 after purchasing an additional 110,504 shares during the period. Finally, Gabelli Funds LLC bought a new position in shares of BioMarin Pharmaceutical in the first quarter worth about $851,000. Institutional investors and hedge funds own 97.42% of the company’s stock.
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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