BioMarin Pharmaceutical (BMRN) Trading Up 5.7%

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s share price was up 5.7% during trading on Thursday . The stock traded as high as $98.16 and last traded at $97.45. Approximately 1,264,337 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 1,303,908 shares. The stock had previously closed at $92.17.

Several equities analysts have recently commented on BMRN shares. Cantor Fitzgerald set a $126.00 target price on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Monday, October 15th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Friday, September 7th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $135.00 target price on shares of BioMarin Pharmaceutical in a report on Sunday, August 5th. Barclays reissued a “hold” rating and issued a $98.00 target price (up previously from $95.00) on shares of BioMarin Pharmaceutical in a report on Sunday, August 5th. Finally, ValuEngine downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $117.00.

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.24 and a current ratio of 2.87. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of -146.21 and a beta of 1.65.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative net margin of 8.35% and a negative return on equity of 2.98%. The business had revenue of $391.71 million for the quarter, compared to analysts’ expectations of $369.43 million. Equities analysts expect that BioMarin Pharmaceutical Inc. will post -0.14 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 25,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $99.50, for a total transaction of $2,487,500.00. Following the transaction, the insider now owns 142,667 shares in the company, valued at $14,195,366.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Brian Mueller sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $104.50, for a total transaction of $261,250.00. Following the transaction, the senior vice president now owns 14,093 shares in the company, valued at approximately $1,472,718.50. The disclosure for this sale can be found here. Insiders have sold 77,523 shares of company stock worth $7,715,543 in the last quarter. Company insiders own 1.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BMRN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of BioMarin Pharmaceutical by 2.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 24,493 shares of the biotechnology company’s stock worth $2,307,000 after purchasing an additional 518 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of BioMarin Pharmaceutical by 0.6% in the second quarter. Great West Life Assurance Co. Can now owns 97,492 shares of the biotechnology company’s stock worth $9,186,000 after purchasing an additional 544 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of BioMarin Pharmaceutical by 4.8% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 12,078 shares of the biotechnology company’s stock worth $1,138,000 after purchasing an additional 556 shares during the last quarter. Comerica Bank grew its holdings in shares of BioMarin Pharmaceutical by 5.9% in the third quarter. Comerica Bank now owns 10,096 shares of the biotechnology company’s stock worth $1,012,000 after purchasing an additional 565 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of BioMarin Pharmaceutical by 5.6% in the second quarter. US Bancorp DE now owns 10,851 shares of the biotechnology company’s stock worth $1,021,000 after purchasing an additional 576 shares during the last quarter.

About BioMarin Pharmaceutical (NASDAQ:BMRN)

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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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