Leerink Swann Reiterates “Outperform” Rating for BioMarin Pharmaceutical Inc. (BMRN)
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “outperform” rating reaffirmed by research analysts at Leerink Swann in a report issued on Friday. They currently have a $127.00 price objective on the stock. Leerink Swann’s target price would indicate a potential upside of 29.45% from the company’s previous close.
A number of other research analysts have also recently issued reports on the stock. Cowen and Company set a $150.00 price objective on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Thursday, September 8th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, September 7th. Wedbush reiterated a “neutral” rating and set a $104.00 price objective (down from $108.00) on shares of BioMarin Pharmaceutical in a report on Tuesday, September 6th. Vetr upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating and set a $111.64 price objective for the company in a report on Wednesday, August 24th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating on shares of BioMarin Pharmaceutical in a report on Friday, August 19th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. BioMarin Pharmaceutical has an average rating of “Buy” and an average price target of $120.61.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 98.11 on Friday. The company has a 50-day moving average of $95.76 and a 200-day moving average of $88.19. The firm’s market cap is $16.04 billion. BioMarin Pharmaceutical has a 52 week low of $62.12 and a 52 week high of $121.50.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. The business had revenue of $300.10 million for the quarter, compared to analyst estimates of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.51) earnings per share. Equities research analysts forecast that BioMarin Pharmaceutical will post ($3.95) earnings per share for the current fiscal year.
In other news, Director V Bryan Lawlis sold 1,100 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $95.39, for a total value of $104,929.00. Following the completion of the transaction, the director now owns 14,960 shares in the company, valued at $1,427,034.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Mueller sold 287 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $28,700.00. Following the completion of the transaction, the vice president now owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Rockefeller Financial Services Inc. acquired a new position in BioMarin Pharmaceutical during the second quarter valued at $111,000. Meeder Asset Management Inc. purchased a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $140,000. Mutual of America Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of 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 in the last quarter. Finally, NEXT Financial Group Inc boosted its position in shares of BioMarin Pharmaceutical by 244.3% in the second quarter. NEXT Financial Group Inc now owns 1,980 shares of the company’s stock valued at $154,000 after buying an additional 1,405 shares in the last quarter. Hedge funds and other institutional investors own 93.11% 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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