BioMarin Pharmaceutical Inc. (BMRN) Receives “Neutral” Rating from Wedbush
Wedbush reaffirmed their neutral rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report sent to investors on Wednesday morning. The firm currently has a $108.00 target price on the biotechnology company’s stock.
Other equities analysts also recently issued reports about the company. BidaskClub downgraded BioMarin Pharmaceutical from a hold rating to a sell rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a buy rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Evercore ISI began coverage on BioMarin Pharmaceutical in a report on Wednesday, August 16th. They issued an outperform rating and a $100.00 price target for the company. Leerink Swann reaffirmed an outperform rating and issued a $142.00 price target (up from $136.00) on shares of BioMarin Pharmaceutical in a report on Thursday, October 19th. Finally, Cowen and Company reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $111.55.
BioMarin Pharmaceutical (BMRN) traded up $0.40 during mid-day trading on Wednesday, hitting $81.81. 1,178,600 shares of the company were exchanged, compared to its average volume of 1,248,101. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91. BioMarin Pharmaceutical has a 12-month low of $79.50 and a 12-month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. analysts anticipate that BioMarin Pharmaceutical will post -0.66 EPS for the current year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total value of $342,225.00. Following the completion of the transaction, the director now owns 19,660 shares in the company, valued at $1,794,171.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the 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 completion of the transaction, the insider now owns 141,422 shares of the company’s stock, valued at approximately $12,798,691. The disclosure for this sale can be found here. Insiders sold 40,686 shares of company stock valued at $3,736,318 in the last quarter. 1.85% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its position in shares of BioMarin Pharmaceutical by 3.6% in the second quarter. Swiss National Bank now owns 631,600 shares of the biotechnology company’s stock valued at $57,362,000 after buying an additional 22,200 shares in the last quarter. Aperio Group LLC increased its position in shares of BioMarin Pharmaceutical by 9.7% in the second quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock valued at $5,131,000 after buying an additional 5,006 shares in the last quarter. Prudential Financial Inc. increased its position in shares of BioMarin Pharmaceutical by 2.9% in the second quarter. Prudential Financial Inc. now owns 145,170 shares of the biotechnology company’s stock valued at $13,185,000 after buying an additional 4,026 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of BioMarin Pharmaceutical by 21.7% in the second quarter. Eagle Asset Management Inc. now owns 306,353 shares of the biotechnology company’s stock valued at $27,822,000 after buying an additional 54,675 shares in the last quarter. Finally, Comgest Global Investors S.A.S. increased its position in shares of BioMarin Pharmaceutical by 49.1% in the second quarter. Comgest Global Investors S.A.S. now owns 24,000 shares of the biotechnology company’s stock valued at $2,180,000 after buying an additional 7,900 shares in the last quarter. Institutional investors and hedge funds own 96.89% of the company’s stock.
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.