BioMarin Pharmaceutical Inc. (BMRN) Earns Sector Perform Rating from Analysts at Royal Bank Of Canada
Royal Bank Of Canada started coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued a sector perform rating and a $93.00 target price on the biotechnology company’s stock.
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a buy rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Wedbush reiterated a neutral rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Evercore ISI initiated coverage on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 16th. They issued an outperform rating and a $100.00 price target for the company. Finally, Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $109.09.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 91.91 on Thursday. The firm’s market cap is $16.11 billion. The stock has a 50 day moving average of $86.49 and a 200-day moving average of $89.56. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $101.27.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to the consensus estimate 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 was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.61) EPS. Equities analysts anticipate that BioMarin Pharmaceutical will post ($0.71) EPS for the current fiscal year.
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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 directly owns 141,422 shares of the company’s stock, valued at approximately $12,727,980. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP George Eric Davis sold 9,844 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the sale, the executive vice president now directly owns 93,425 shares in the company, valued at $9,024,855. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,515 shares of company stock worth $2,568,030. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cigna Investments Inc. New grew its stake in BioMarin Pharmaceutical by 1.5% in the 2nd quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 36 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in BioMarin Pharmaceutical by 1.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock valued at $450,000 after acquiring an additional 50 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in BioMarin Pharmaceutical by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 54 shares during the last quarter. NGAM Advisors L.P. grew its stake in BioMarin Pharmaceutical by 0.4% in the 2nd quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after acquiring an additional 55 shares during the last quarter. Finally, First American Trust FSB grew its stake in BioMarin Pharmaceutical by 0.3% in the 2nd quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock valued at $2,424,000 after acquiring an additional 73 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.
BioMarin Pharmaceutical Company Profile
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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