BioMarin Pharmaceutical Inc. (BMRN) Stock Price Up 2.2%
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rose 2.2% on Thursday . The stock traded as high as $89.64 and last traded at $89.03, with a volume of 1,495,965 shares trading hands. The stock had previously closed at $87.12.
BMRN has been the topic of several analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $116.00 target price (down previously from $120.00) on shares of BioMarin Pharmaceutical in a report on Friday, April 8th. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets assumed coverage on shares of BioMarin Pharmaceutical in a report on Thursday, April 7th. They set an “outperform” rating and a $99.00 price objective on the stock. Leerink Swann reissued an “outperform” rating and set a $107.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, June 22nd. Finally, Wedbush reissued a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, March 22nd. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and an average price target of $122.96.
The stock has a 50-day moving average of $84.27 and a 200-day moving average of $83.96. The stock’s market capitalization is $14.95 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, April 28th. The company reported ($0.53) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.85) by $0.32. During the same quarter in the previous year, the company earned ($0.43) earnings per share. The company had revenue of $236.70 million for the quarter, compared to the consensus estimate of $240.21 million. BioMarin Pharmaceutical’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, analysts forecast that BioMarin Pharmaceutical Inc. will post ($2.84) earnings per share for the current fiscal year.
In related news, CEO Jean Jacques Bienaime sold 36,500 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $85.01, for a total transaction of $3,102,865.00. Following the completion of the transaction, the chief executive officer now directly owns 395,635 shares in the company, valued at approximately $33,632,931.35. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP George Eric Davis sold 2,167 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $90.00, for a total value of $195,030.00. Following the transaction, the executive vice president now owns 72,836 shares of the company’s stock, valued at $6,555,240. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the company. ING Groep increased its position in shares of BioMarin Pharmaceutical by 524.1% in the third quarter. ING Groep now owns 15,460 shares of the company’s stock worth $1,628,000 after buying an additional 12,983 shares during the last quarter. I.G. Investment Management LTD. increased its position in shares of BioMarin Pharmaceutical by 20.1% in the fourth quarter. I.G. Investment Management LTD. now owns 32,380 shares of the company’s stock worth $3,392,000 after buying an additional 5,430 shares during the last quarter. Gulf International Bank UK Ltd increased its position in shares of BioMarin Pharmaceutical by 0.9% in the fourth quarter. Gulf International Bank UK Ltd now owns 48,075 shares of the company’s stock worth $5,036,000 after buying an additional 410 shares during the last quarter. GAM Holding AG increased its position in shares of BioMarin Pharmaceutical by 60.4% in the fourth quarter. GAM Holding AG now owns 89,329 shares of the company’s stock worth $9,358,000 after buying an additional 33,651 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 0.3% in the fourth quarter. TD Asset Management Inc. now owns 105,383 shares of the company’s stock worth $11,040,000 after buying an additional 310 shares during the last quarter.
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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