BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Monday. They currently have a $91.77 price target on the stock. Vetr‘s target price would indicate a potential upside of 3.11% from the company’s current price.
BMRN has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $120.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, August 5th. Piper Jaffray Cos. reissued an “overweight” rating on shares of BioMarin Pharmaceutical in a report on Friday, August 19th. Goldman Sachs Group Inc. raised shares of BioMarin Pharmaceutical to a “neutral” rating in a report on Friday, October 7th. Cowen and Company set a $150.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Leerink Swann reissued an “outperform” rating and issued a $127.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, October 13th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $115.24.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 89.00 on Monday. BioMarin Pharmaceutical has a 52-week low of $62.12 and a 52-week high of $107.56. The company’s 50-day moving average is $86.29 and its 200-day moving average is $89.53. The company’s market capitalization is $15.31 billion.
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 Thomson Reuters’ consensus estimate of ($0.39) by $0.13. BioMarin Pharmaceutical had a negative net margin of 46.22% and a negative return on equity of 8.54%. The firm earned $279.90 million during the quarter, compared to analyst estimates of $289.70 million. During the same quarter in the prior year, the business posted ($0.60) EPS. The business’s revenue was up 34.0% compared to the same quarter last year. On average, analysts expect that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 137,368 shares of the stock in a transaction that occurred on Friday, September 16th. The shares were sold at an average price of $95.34, for a total transaction of $13,096,665.12. Following the transaction, the chief executive officer now directly owns 421,161 shares in the company, valued at $40,153,489.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 18,467 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $95.61, for a total transaction of $1,765,629.87. Following the transaction, the executive vice president now owns 41,342 shares in the company, valued at $3,952,708.62. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. raised its stake in BioMarin Pharmaceutical by 22.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,159 shares of the company’s stock worth $107,000 after buying an additional 209 shares during the period. Rockefeller Financial Services Inc. bought a new stake in BioMarin Pharmaceutical during the second quarter worth $111,000. Independent Portfolio Consultants Inc. bought a new stake in BioMarin Pharmaceutical during the third quarter worth $121,000. Toronto Dominion Bank raised its stake in BioMarin Pharmaceutical by 57.8% in the third quarter. Toronto Dominion Bank now owns 1,401 shares of the company’s stock worth $130,000 after buying an additional 513 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in BioMarin Pharmaceutical during the second quarter worth $140,000. Institutional investors and hedge funds own 93.68% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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).