Trading Report: Today, BioMarin Pharmaceutical Inc. (BMRN) Decreased to “Neutral” at Piper Jaffray Cos.

Today, BioMarin Pharmaceutical Inc. (BMRN) Decreased to “Neutral” at Piper Jaffray Cos.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by stock analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday. They presently have a $84.00 price objective on the stock, down from their prior price objective of $105.00. Piper Jaffray Cos.’s target price suggests a potential downside of 5.62% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other analysts have also issued reports on the stock. Vetr lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $90.22 price objective on the stock. in a research note on Monday, November 7th. Deutsche Bank AG assumed coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, November 3rd. They set a “buy” rating and a $106.00 price objective on the stock. Zacks Investment Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 1st. JPMorgan Chase & Co. reissued a “buy” rating and set a $127.00 price target on shares of BioMarin Pharmaceutical in a research report on Monday, October 31st. Finally, RBC Capital Markets set a $125.00 price target on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Sunday, October 30th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $115.24.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 89.00 on Monday. The stock’s market cap is $15.31 billion. The company has a 50-day moving average of $86.29 and a 200 day moving average of $89.53. BioMarin Pharmaceutical has a 52-week low of $62.12 and a 52-week high of $107.56.

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

In related news, EVP Jeffrey Robert Ajer sold 18,467 shares of BioMarin Pharmaceutical stock in a transaction dated 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 transaction, the executive vice president now owns 41,342 shares of the company’s stock, valued at approximately $3,952,708.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 137,368 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $95.34, for a total value of $13,096,665.12. Following the completion of the transaction, the chief executive officer now directly owns 421,161 shares in the company, 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.

Institutional investors have recently modified their holdings of the company. ETRADE Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 28.1% in the third quarter. ETRADE Capital Management LLC now owns 3,914 shares of the company’s stock worth $362,000 after buying an additional 859 shares in the last quarter. Chartwell Investment Partners LLC bought a new position in shares of BioMarin Pharmaceutical during the third quarter worth $57,328,000. Dai Ichi Life Holdings Inc. boosted its position in shares of BioMarin Pharmaceutical by 201.4% in the third quarter. Dai Ichi Life Holdings Inc. now owns 52,623 shares of the company’s stock worth $4,869,000 after buying an additional 35,166 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of BioMarin Pharmaceutical during the third quarter worth $1,739,000. Finally, Xact Kapitalforvaltning AB bought a new position in shares of BioMarin Pharmaceutical during the third quarter worth $1,841,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

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