Trade Report: Today, BioMarin Pharmaceutical Inc. (BMRN) Upgraded to Buy at Vetr Inc.

Today, BioMarin Pharmaceutical Inc. (BMRN) Upgraded to Buy at Vetr Inc.

Vetr upgraded shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) from a hold rating to a buy rating in a research report report published on Monday. The brokerage currently has $91.77 price target on the stock.

Other research analysts have also issued reports about the company. William Blair set a $116.00 price target on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Thursday, July 28th. Robert W. Baird set a $115.00 price target on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Saturday, October 15th. RBC Capital Markets set a $125.00 price target on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Sunday, October 30th. Wedbush restated a neutral rating and set a $104.00 price target (down from $108.00) on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 7th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical has an average rating of Buy and a consensus price target of $115.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 88.10 on Monday. The company’s 50-day moving average price is $86.66 and its 200 day moving average price is $89.49. The firm’s market capitalization is $15.15 billion. BioMarin Pharmaceutical has a 12 month low of $62.12 and a 12 month high of $107.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative return on equity of 8.54% and a negative net margin of 46.22%. The company earned $279.90 million during the quarter, compared to analysts’ expectations of $289.70 million. During the same quarter last year, the firm earned ($0.60) earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. Analysts predict that BioMarin Pharmaceutical will post ($3.73) EPS for the current year.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 53,125 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $93.65, for a total value of $4,975,156.25. Following the sale, the chief executive officer now owns 431,709 shares of the company’s stock, valued at approximately $40,429,547.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total value of $1,765,629.87. Following the completion of the sale, the executive vice president now directly owns 41,342 shares in the company, valued at approximately $3,952,708.62. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. IBM Retirement Fund raised its stake in shares of BioMarin Pharmaceutical by 1.8% in the second quarter. IBM Retirement Fund now owns 19,233 shares of the company’s stock worth $1,562,000 after buying an additional 346 shares in the last quarter. Hartford Investment Management Co. raised its stake in shares of BioMarin Pharmaceutical by 2.5% in the second quarter. Hartford Investment Management Co. now owns 2,906 shares of the company’s stock valued at $226,000 after buying an additional 70 shares during the period. Rockefeller Financial Services Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Nordea Investment Management AB raised its stake in shares of BioMarin Pharmaceutical by 34.5% in the second quarter. Nordea Investment Management AB now owns 99,717 shares of the company’s stock valued at $7,758,000 after buying an additional 25,600 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of BioMarin Pharmaceutical by 1.7% in the second quarter. Eagle Asset Management Inc. now owns 175,484 shares of the company’s stock valued at $13,652,000 after buying an additional 2,861 shares during the period. 93.68% of the stock is currently owned by institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

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