BioMarin Pharmaceutical Inc. (BMRN) Stock Price Down 3.8%
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares dropped 3.8% during trading on Tuesday . The stock traded as low as $93.74 and last traded at $95.25, with a volume of 3,796,314 shares traded. The stock had previously closed at $99.02.
BMRN has been the subject of several recent analyst reports. Credit Suisse Group AG reaffirmed a “buy” rating and set a $114.00 price objective (up from $103.00) on shares of BioMarin Pharmaceutical in a research note on Monday, June 13th. Wedbush reaffirmed a “neutral” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Tuesday. Robert W. Baird lifted their price objective on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating and set a $99.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, June 20th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.01.
The stock’s 50-day moving average is $89.51 and its 200-day moving average is $84.28. The company’s market cap is $15.54 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. The company earned $300.10 million during the quarter, compared to analysts’ expectations of $278.75 million. The company’s revenue was up 20.0% on a year-over-year basis. During the same period last year, the firm earned ($0.51) earnings per share. Analysts forecast that BioMarin Pharmaceutical Inc. will post ($2.23) EPS for the current year.
In related news, Director V Bryan Lawlis sold 550 shares of the firm’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $82.77, for a total transaction of $45,523.50. Following the completion of the transaction, the director now directly owns 13,860 shares in the company, valued at approximately $1,147,192.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian Mueller sold 287 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total value of $28,700.00. Following the transaction, the vice president now owns 14,260 shares of the company’s stock, valued at $1,426,000. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in the stock. Utah Retirement Systems boosted its position in shares of BioMarin Pharmaceutical by 0.3% in the fourth quarter. Utah Retirement Systems now owns 28,781 shares of the company’s stock worth $3,016,000 after buying an additional 100 shares during the period. I.G. Investment Management LTD. boosted 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 period. Finally, RS Investment Management Co. LLC boosted its position in shares of BioMarin Pharmaceutical by 80.2% in the fourth quarter. RS Investment Management Co. LLC now owns 99,240 shares of the company’s stock worth $10,396,000 after buying an additional 44,180 shares during the period.
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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