Todays Report: The BioMarin Pharmaceutical’s (BMRN) Outperform Rating Reaffirmed at Leerink Swann

The BioMarin Pharmaceutical’s (BMRN) Outperform Rating Reaffirmed at Leerink Swann

Leerink Swann reiterated their outperform rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note published on Thursday morning. Leerink Swann currently has a $127.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating and set a $98.00 target price on the stock in a research note on Wednesday, July 13th. Cowen and Company reiterated a buy rating on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Barclays PLC reiterated a buy rating on shares of BioMarin Pharmaceutical in a research note on Thursday, June 16th. William Blair set a $116.00 price target on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Thursday, July 28th. Finally, Jefferies Group set a $116.00 price target on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $118.31.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 1.76% on Thursday, hitting $85.34. The stock had a trading volume of 385,658 shares. The company has a 50 day moving average price of $94.91 and a 200-day moving average price of $89.49. The stock’s market cap is $13.95 billion. BioMarin Pharmaceutical has a 12 month low of $62.12 and a 12 month high of $118.48.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The firm had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $278.75 million. During the same quarter last year, the firm posted ($0.51) EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts anticipate that BioMarin Pharmaceutical will post ($3.95) earnings per share for the current year.

In other news, Director V Bryan Lawlis sold 6,400 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $95.01, for a total value of $608,064.00. Following the completion of the sale, the director now owns 20,260 shares of the company’s stock, valued at approximately $1,924,902.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 137,368 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $95.34, for a total transaction of $13,096,665.12. Following the completion of the sale, the chief executive officer now directly owns 421,161 shares of the company’s stock, valued at approximately $40,153,489.74. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of BioMarin Pharmaceutical by 1.2% in the second quarter. Pacer Advisors Inc. now owns 4,339 shares of the company’s stock valued at $338,000 after buying an additional 52 shares during the last quarter. Hartford Investment Management Co. boosted its stake in BioMarin Pharmaceutical by 2.5% in the second quarter. Hartford Investment Management Co. now owns 2,906 shares of the company’s stock worth $226,000 after buying an additional 70 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in BioMarin Pharmaceutical by 0.6% in the second quarter. Essex Investment Management Co. LLC now owns 15,411 shares of the company’s stock worth $1,199,000 after buying an additional 90 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in BioMarin Pharmaceutical by 2.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 4,082 shares of the company’s stock worth $286,000 after buying an additional 90 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in BioMarin Pharmaceutical by 0.7% in the second quarter. Glenmede Trust Co. NA now owns 16,639 shares of the company’s stock worth $1,293,000 after buying an additional 114 shares during the last quarter. 93.02% of the stock is owned by hedge funds and other institutional investors.

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