The BioMarin Pharmaceutical Inc. (BMRN) Decreased to “Buy” at Vetr Inc.

The BioMarin Pharmaceutical Inc. (BMRN) Decreased to “Buy” at Vetr Inc.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They presently have a $90.22 price target on the stock. Vetr‘s price target indicates a potential upside of 1.37% from the company’s current price.

Other research analysts have also issued research reports about the company. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, July 13th. Robert W. Baird lifted their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Leerink Swann reiterated an “outperform” rating and set a $107.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Finally, Wedbush reiterated a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $115.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 1.02% on Monday, hitting $89.00. 647,620 shares of the stock were exchanged. BioMarin Pharmaceutical has a 52-week low of $62.12 and a 52-week high of $107.56. The stock’s 50 day moving average price is $86.29 and its 200 day moving average price is $89.53. The firm’s market cap is $15306.84 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.13. The company 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 8.54% and a negative net margin of 46.22%. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.60) EPS. Equities research analysts forecast that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 18,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was 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 owns 41,342 shares in the company, valued at $3,952,708.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jean Jacques Bienaime sold 69,744 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $87.56, for a total value of $6,106,784.64. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

A number of large investors have recently modified their holdings of BMRN. Douglass Winthrop Advisors LLC boosted its stake in BioMarin Pharmaceutical by 1.1% in the third quarter. Douglass Winthrop Advisors LLC now owns 3,110 shares of the company’s stock valued at $288,000 after buying an additional 35 shares during the period. Pacer Advisors Inc. boosted its stake in 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 period. CIBC Asset Management Inc boosted its stake in BioMarin Pharmaceutical by 0.5% in the third quarter. CIBC Asset Management Inc now owns 11,723 shares of the company’s stock valued at $1,085,000 after buying an additional 56 shares during the period. 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 valued at $226,000 after buying an additional 70 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in BioMarin Pharmaceutical by 1.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,161 shares of the company’s stock valued at $385,000 after buying an additional 79 shares during the period. Institutional investors 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).

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