Piper Jaffray Companies reiterated their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a report published on Thursday morning. Piper Jaffray Companies currently has a $113.00 price objective on the biotechnology company’s stock.

Several other brokerages also recently commented on BMRN. Deutsche Bank AG reaffirmed a buy rating and issued a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Wedbush reaffirmed a neutral rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. UBS AG reaffirmed a neutral rating and issued a $93.00 price objective (up previously from $92.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, August 3rd. Cowen and Company reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $107.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of Hold and a consensus target price of $109.09.

BioMarin Pharmaceutical (NASDAQ BMRN) opened at 94.95 on Thursday. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $100.51. The company’s market capitalization is $16.64 billion. The firm’s 50-day moving average is $86.72 and its 200-day moving average is $89.48.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($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, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the sale, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after purchasing an additional 642,623 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after purchasing an additional 3,348,168 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of BioMarin Pharmaceutical by 10.5% during the 1st quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after purchasing an additional 826,320 shares during the last quarter. State Street Corp lifted its stake in shares of BioMarin Pharmaceutical by 6.9% during the 1st quarter. State Street Corp now owns 4,001,529 shares of the biotechnology company’s stock worth $351,249,000 after purchasing an additional 258,417 shares during the last quarter. Finally, Palo Alto Investors LLC lifted its stake in shares of BioMarin Pharmaceutical by 21.5% during the 1st quarter. Palo Alto Investors LLC now owns 2,382,619 shares of the biotechnology company’s stock worth $209,146,000 after purchasing an additional 422,400 shares during the last quarter. Hedge funds and other institutional investors own 97.46% of the company’s stock.

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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