BioMarin Pharmaceutical Inc. (BMRN) Downgraded by Vetr Inc.
Vetr downgraded shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) from a buy rating to a hold rating in a research note released on Monday morning. They currently have $91.77 target price on the stock.
Several other research firms have also recently issued reports on BMRN. Jefferies Group increased their price objective on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a buy rating in a research report on Friday, August 5th. Piper Jaffray Cos. increased their price objective on BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an overweight rating in a research report on Friday, August 5th. Stifel Nicolaus increased their price objective on BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a buy rating in a research report on Friday, August 5th. Barclays PLC raised their price target on BioMarin Pharmaceutical from $105.00 to $125.00 and gave the company an overweight rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG set a $111.00 price target on BioMarin Pharmaceutical and gave the company a buy rating in a research report on Monday, August 8th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $114.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 85.63 on Monday. The firm’s market cap is $14.73 billion. The stock’s 50 day moving average is $86.14 and its 200 day moving average is $89.66. BioMarin Pharmaceutical has a 12 month low of $62.12 and a 12 month high of $107.56.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.13. The firm earned $279.90 million during the quarter, compared to analysts’ expectations of $289.70 million. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. BioMarin Pharmaceutical’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.60) earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.
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In related news, CEO Jean Jacques Bienaime sold 69,743 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $85.69, for a total transaction of $5,976,277.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $95.61, for a total value of $1,765,629.87. Following the transaction, the executive vice president now directly owns 41,342 shares in the company, valued at $3,952,708.62. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in BioMarin Pharmaceutical by 27.5% in the third quarter. Capital Research Global Investors now owns 20,216,215 shares of the company’s stock valued at $1,870,404,000 after buying an additional 4,362,912 shares in the last quarter. ING Groep NV acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at about $57,357,000. Pictet Asset Management Ltd. increased its stake in BioMarin Pharmaceutical by 265.1% in the second quarter. Pictet Asset Management Ltd. now owns 968,295 shares of the company’s stock valued at $86,808,000 after buying an additional 703,112 shares in the last quarter. Jennison Associates LLC increased its stake in BioMarin Pharmaceutical by 7.2% in the third quarter. Jennison Associates LLC now owns 9,702,200 shares of the company’s stock valued at $897,648,000 after buying an additional 650,956 shares in the last quarter. Finally, Chartwell Investment Partners LLC acquired a new stake in BioMarin Pharmaceutical during the third quarter valued at about $57,328,000. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
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).
To view Vetr’s full report, visit Vetr’s official website.
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