BioMarin Pharmaceutical Inc. Forecasted to Earn Q3 2017 Earnings of ($0.02) Per Share (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Leerink Swann boosted their Q3 2017 earnings per share estimates for BioMarin Pharmaceutical in a research report issued on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the biotechnology company will post earnings per share of ($0.02) for the quarter, up from their prior estimate of ($0.09). Leerink Swann has a “Buy” rating on the stock. Leerink Swann also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.28) EPS and FY2017 earnings at ($0.59) EPS.
Several other research analysts also recently weighed in on BMRN. Deutsche Bank AG restated a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday. Stifel Nicolaus restated a “buy” rating and issued a $107.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Wedbush restated a “neutral” rating and issued a $108.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday. UBS AG restated a “neutral” rating and issued a $93.00 target price (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Finally, Cowen and Company restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $110.20.
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Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at 85.46 on Monday. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.06. The stock’s market capitalization is $14.98 billion. The stock’s 50 day moving average is $90.26 and its 200 day moving average is $90.00.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned ($2.61) EPS.
In related news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $90.00, for a total value of $1,350,000.00. Following the sale, the insider now owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $90.13, for a total transaction of $901,300.00. Following the completion of the sale, the chief executive officer now directly owns 238,564 shares in the company, valued at approximately $21,501,773.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,740 shares of company stock worth $5,659,589. Corporate insiders own 2.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares during the period. Nikko Asset Management Americas Inc. purchased a new stake in BioMarin Pharmaceutical during the first quarter worth $114,000. Global X Management Co. LLC boosted its stake in BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares during the period. Korea Investment CORP boosted its stake in BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after buying an additional 940 shares during the period. Finally, Toronto Dominion Bank boosted its stake in BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares during the period. 96.82% 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).
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