BioMarin Pharmaceutical Inc. (BMRN) Stock Price Down 3.8%
Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) dropped 3.8% during trading on Tuesday . The company 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 a number of recent research reports. Credit Suisse Group AG reiterated a “buy” rating and set a $114.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, April 29th. Barclays PLC restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, June 16th. Leerink Swann restated an “outperform” rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, June 22nd. Piper Jaffray Cos. lifted their price objective on BioMarin Pharmaceutical from $107.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Tuesday, April 19th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $121.01.
The firm’s 50 day moving average is $89.96 and its 200 day moving average is $84.41. The firm’s market capitalization is $15.01 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $2.09. The business earned $300.10 million during the quarter, compared to analysts’ expectations of $278.75 million. During the same quarter last year, the company earned ($0.51) earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.75) earnings per share for the current year.
In other BioMarin Pharmaceutical news, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $100.00, for a total value of $28,700.00. Following the sale, the vice president now owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V Bryan Lawlis sold 550 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $82.77, for a total value of $45,523.50. Following the completion of the sale, the director now directly owns 13,860 shares in the company, valued at approximately $1,147,192.20. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in the stock. Utah Retirement Systems increased its stake in BioMarin Pharmaceutical by 0.3% in the fourth quarter. Utah Retirement Systems now owns 28,781 shares of the company’s stock valued at $3,016,000 after buying an additional 100 shares in the last quarter. I.G. Investment Management LTD. increased its stake in BioMarin Pharmaceutical by 20.1% in the fourth quarter. I.G. Investment Management LTD. now owns 32,380 shares of the company’s stock valued at $3,392,000 after buying an additional 5,430 shares in the last quarter. Finally, RS Investment Management Co. LLC increased its stake in BioMarin Pharmaceutical by 80.2% in the fourth quarter. RS Investment Management Co. LLC now owns 99,240 shares of the company’s stock valued at $10,396,000 after buying an additional 44,180 shares in 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.