Today, Vetr Inc. lowers the Stock rating of BioMarin Pharmaceutical Inc. (BMRN)

Today, Vetr Inc. lowers the Stock rating of BioMarin Pharmaceutical Inc. (BMRN)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $91.77 target price on the stock. Vetr‘s price objective would suggest a potential upside of 3.11% from the stock’s current price.

Several other analysts also recently weighed in on BMRN. Barclays PLC lifted their price target on shares of BioMarin Pharmaceutical from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Stifel Nicolaus boosted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Piper Jaffray Cos. boosted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Jefferies Group boosted their price objective on shares of BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BioMarin Pharmaceutical from $120.00 to $127.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and a consensus price target of $115.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.72% during trading on Monday, hitting $88.36. The stock had a trading volume of 1,388,567 shares. The firm’s market cap is $15.20 billion. 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 $86.14 and its 200 day moving average is $89.66.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.26) earnings per share for the quarter, beating 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 the consensus estimate of $289.70 million. During the same quarter in the previous year, the firm posted ($0.60) earnings per share. The company’s revenue was up 34.0% on a year-over-year basis. Equities research analysts forecast that BioMarin Pharmaceutical will post ($3.73) earnings per share for the current year.

In related news, EVP Jeffrey Robert Ajer sold 18,467 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 41,342 shares in the company, valued at approximately $3,952,708.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 69,743 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $85.69, for a total transaction of $5,976,277.67. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametrica Management Ltd increased its position in BioMarin Pharmaceutical by 149.4% in the second quarter. Parametrica Management Ltd now owns 6,507 shares of the company’s stock valued at $506,000 after buying an additional 3,898 shares during the period. LS Investment Advisors LLC increased its position in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the period. IBM Retirement Fund increased its position in BioMarin Pharmaceutical by 1.8% in the second quarter. IBM Retirement Fund now owns 19,233 shares of the company’s stock valued at $1,562,000 after buying an additional 346 shares during the period. Hartford Investment Management Co. increased its position 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, Rockefeller Financial Services Inc. bought a new position in BioMarin Pharmaceutical during the second quarter valued at $111,000. Hedge funds and other institutional investors own 97.54% 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).

Related posts

Leave a Comment