Trading Report: The BioMarin Pharmaceutical Inc. (BMRN) Releases FY16 Earnings Guidance

The BioMarin Pharmaceutical Inc. (BMRN) Releases FY16 Earnings Guidance

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.06)-(0.18) for the period, compared to the Thomson Reuters consensus estimate of ($0.27). The company issued revenue guidance of $1.1-1.15 billion, compared to the consensus revenue estimate of $1.13 billion.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 81.13 on Monday. The company’s 50 day moving average price is $91.10 and its 200-day moving average price is $89.47. The company’s market capitalization is $13.93 billion. BioMarin Pharmaceutical Inc. has a 12-month low of $62.12 and a 12-month high of $118.48.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. The business had revenue of $279.90 million for the quarter, compared to analyst estimates of $289.70 million. BioMarin Pharmaceutical had a negative return on equity of 8.96% and a negative net margin of 46.22%. BioMarin Pharmaceutical’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.60) EPS. Equities analysts forecast that BioMarin Pharmaceutical Inc. will post ($3.86) earnings per share for the current fiscal year.

Several brokerages have commented on BMRN. RBC Capital Markets set a $125.00 target price on BioMarin Pharmaceutical and gave the stock a buy rating in a report on Sunday. Cowen and Company reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Robert W. Baird set a $115.00 target price on BioMarin Pharmaceutical and gave the stock a buy rating in a report on Saturday, October 15th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a report on Wednesday, September 7th. Finally, Stifel Nicolaus lifted their target price on BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a buy rating in a report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of Buy and an average target price of $118.67.

In related news, CEO Jean Jacques Bienaime sold 41,666 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $84.39, for a total value of $3,516,193.74. Following the transaction, the chief executive officer now owns 365,034 shares in the company, valued at $30,805,219.26. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Henry J. Fuchs sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $95.06, for a total value of $1,425,900.00. Following the completion of the transaction, the executive vice president now owns 128,878 shares in the company, valued at approximately $12,251,142.68. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. purchased a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $826,000. United Services Automobile Association increased its position in BioMarin Pharmaceutical by 2.8% in the second quarter. United Services Automobile Association now owns 29,407 shares of the company’s stock valued at $2,288,000 after buying an additional 806 shares during the last quarter. Cibc World Markets Corp increased its position in BioMarin Pharmaceutical by 10.4% in the second quarter. Cibc World Markets Corp now owns 10,701 shares of the company’s stock valued at $833,000 after buying an additional 1,011 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in BioMarin Pharmaceutical by 3.5% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,344 shares of the company’s stock valued at $494,000 after buying an additional 217 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc OH increased its position in BioMarin Pharmaceutical by 2.5% in the second quarter. Fort Washington Investment Advisors Inc OH now owns 9,350 shares of the company’s stock valued at $727,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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