BioMarin Pharmaceutical Inc. (BMRN) Stock Price Down 0.1%
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares fell 0.1% during trading on Thursday . The stock traded as low as $86.90 and last traded at $88.70. 1,060,181 shares changed hands during mid-day trading, a decline of 19% from the average session volume of 1,308,010 shares. The stock had previously closed at $88.62.
Several brokerages recently commented on BMRN. SunTrust Banks, Inc. set a $115.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “buy” rating and issued a $117.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday. Leerink Swann reaffirmed an “outperform” rating and issued a $142.00 target price (up from $136.00) on shares of BioMarin Pharmaceutical in a research report on Thursday. Deutsche Bank AG reaffirmed a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 9th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $108.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, August 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. BioMarin Pharmaceutical has an average rating of “Hold” and a consensus target price of $111.25.
The stock’s market capitalization is $15.38 billion. The company has a 50 day moving average price of $92.50 and a 200 day moving average price of $90.06.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The firm had revenue of $317.50 million during 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 business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned ($2.61) earnings per share. Equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post ($0.73) EPS for the current year.
In other news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $95.00, for a total value of $334,495.00. Following the completion of the sale, the executive vice president now directly owns 49,299 shares of the company’s stock, valued at approximately $4,683,405. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock valued at $3,736,318 over the last quarter. Corporate insiders own 1.85% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Shell Asset Management Co. increased its stake in shares of BioMarin Pharmaceutical by 30.9% in the third quarter. Shell Asset Management Co. now owns 28,845 shares of the biotechnology company’s stock valued at $2,081,000 after buying an additional 6,813 shares during the period. Toronto Dominion Bank increased its stake in shares of BioMarin Pharmaceutical by 12.9% in the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 243 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $368,000. WINTON GROUP Ltd acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $223,000. Finally, Ameritas Investment Partners Inc. increased its stake in shares of BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 54 shares during the period. 97.29% of the stock is owned by institutional investors.
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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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