Wedbush Upgrades BioMarin Pharmaceutical (BMRN) to “Outperform”
BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by investment analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Thursday.
BMRN has been the subject of several other research reports. Zacks Investment Research lowered shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Goldman Sachs Group reissued a “buy” rating and issued a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Morgan Stanley reissued an “overweight” rating and issued a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Jefferies Group reissued a “buy” rating and issued a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies initiated coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus price target of $112.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at $88.66 on Thursday. BioMarin Pharmaceutical has a 52-week low of $80.10 and a 52-week high of $100.51. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The firm had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts expect that BioMarin Pharmaceutical will post -0.65 earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $334,495.00. Following the transaction, the executive vice president now directly owns 49,299 shares in the company, valued at approximately $4,683,405. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP George Eric Davis sold 1,200 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total transaction of $102,768.00. The disclosure for this sale can be found here. Insiders sold 41,886 shares of company stock valued at $3,839,086 over the last 90 days. Insiders own 1.85% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Americafirst Capital Management LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $702,000. IFM Investors Pty Ltd bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $448,000. Piedmont Investment Advisors LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $561,000. California Public Employees Retirement System boosted its stake in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 332,500 shares of the biotechnology company’s stock valued at $30,946,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $388,000. Hedge funds and other institutional investors own 99.25% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/12/14/wedbush-upgrades-biomarin-pharmaceutical-bmrn-to-outperform.html.
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).
Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.