BioMarin Pharmaceutical Inc. (BMRN) Given Neutral Rating at UBS AG
UBS AG reiterated their neutral rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report released on Thursday morning. UBS AG currently has a $93.00 price objective on the biotechnology company’s stock, up from their prior price objective of $92.00.
BMRN has been the subject of a number of other reports. Deutsche Bank AG set a $105.00 price target on BioMarin Pharmaceutical and gave the company a buy rating in a research report on Friday, April 28th. BMO Capital Markets dropped their price target on BioMarin Pharmaceutical from $112.00 to $105.00 and set an outperform rating for the company in a research report on Monday, April 24th. Jefferies Group LLC restated a buy rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, May 15th. J P Morgan Chase & Co restated a buy rating on shares of BioMarin Pharmaceutical in a research report on Monday, May 1st. Finally, Zacks Investment Research upgraded BioMarin Pharmaceutical from a hold rating to a strong-buy rating and set a $105.00 price target for the company in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $110.20.
BioMarin Pharmaceutical (BMRN) traded up 0.20% during midday trading on Thursday, hitting $89.70. The stock had a trading volume of 897,663 shares. The company’s market cap is $15.72 billion. The firm has a 50-day moving average of $90.43 and a 200-day moving average of $90.03. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.61) earnings per share. Equities research analysts forecast that BioMarin Pharmaceutical will post ($0.72) EPS for the current year.
In other news, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $90.00, for a total transaction of $1,350,000.00. Following the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,727,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $96.09, for a total value of $960,900.00. Following the sale, the chief executive officer now directly owns 238,496 shares in the company, valued at approximately $22,917,080.64. The disclosure for this sale can be found here. Insiders have sold 79,222 shares of company stock worth $7,307,860 in the last ninety days. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of BMRN. Jennison Associates LLC raised its stake in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after buying an additional 3,348,168 shares in the last quarter. Primecap Management Co. CA raised its stake in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after buying an additional 826,320 shares in the last quarter. Vanguard Group Inc. raised its stake in BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock worth $1,202,796,000 after buying an additional 495,118 shares in the last quarter. Manning & Napier Advisors LLC raised its stake in BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in BioMarin Pharmaceutical during the first quarter worth $37,416,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.