Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have received an average recommendation of “Buy” from the twenty-one ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $117.00.
Several equities analysts have issued reports on the company. BidaskClub upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Saturday, July 14th. Citigroup boosted their target price on BioMarin Pharmaceutical from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. ValuEngine upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Stifel Nicolaus boosted their target price on BioMarin Pharmaceutical from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley boosted their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 3rd.
In related news, EVP Robert Baffi sold 5,173 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $105.00, for a total value of $543,165.00. Following the completion of the sale, the executive vice president now owns 83,276 shares in the company, valued at $8,743,980. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 31,000 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $90.00, for a total value of $2,790,000.00. Following the completion of the sale, the insider now owns 157,167 shares of the company’s stock, valued at approximately $14,145,030. The disclosure for this sale can be found here. Insiders sold 109,574 shares of company stock valued at $10,605,184 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. BDO Wealth Advisors LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at about $127,000. Financial Gravity Wealth Inc. acquired a new position in BioMarin Pharmaceutical in the first quarter valued at about $195,000. Allen Investment Management LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at about $203,000. Jump Trading LLC acquired a new position in BioMarin Pharmaceutical in the first quarter valued at about $240,000. Finally, Reilly Financial Advisors LLC acquired a new position in BioMarin Pharmaceutical in the second quarter valued at about $254,000.
Shares of BMRN opened at $96.60 on Monday. The company has a quick ratio of 2.24, a current ratio of 2.83 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical has a 52-week low of $75.81 and a 52-week high of $106.20. The firm has a market capitalization of $17.76 billion, a price-to-earnings ratio of -144.18 and a beta of 1.63.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative net margin of 8.68% and a negative return on equity of 3.00%. The business had revenue of $372.80 million during the quarter, compared to the consensus estimate of $359.25 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. equities research analysts forecast that BioMarin Pharmaceutical will post -0.24 earnings per share for the current year.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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