BioMarin Pharmaceutical (BMRN) PT Raised to $130.00
BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price raised by equities researchers at SunTrust Banks to $130.00 in a note issued to investors on Monday. The firm currently has a “buy” rating on the biotechnology company’s stock. SunTrust Banks’ price objective points to a potential upside of 58.56% from the stock’s current price.
Several other research firms also recently issued reports on BMRN. Evercore ISI started coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They set an “outperform” rating and a $100.00 price objective for the company. BidaskClub downgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Jefferies Group set a $116.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday, August 25th. Citigroup started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, August 31st. They issued a “buy” rating and a $98.00 target price for the company. Finally, Piper Jaffray Companies started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued an “overweight” rating and a $113.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $112.35.
BioMarin Pharmaceutical (NASDAQ BMRN) opened at $81.99 on Monday. BioMarin Pharmaceutical has a 52-week low of $80.10 and a 52-week high of $100.51. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The firm had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. BioMarin Pharmaceutical’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts expect that BioMarin Pharmaceutical will post -0.65 earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the sale, the insider now directly owns 141,422 shares of the company’s stock, valued at $12,798,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. Insiders sold 41,886 shares of company stock worth $3,839,086 over the last ninety days. 1.85% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the business. Korea Investment CORP increased its holdings in shares of BioMarin Pharmaceutical by 143.5% in the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after acquiring an additional 940 shares during the period. Global X Management Co. LLC grew its position in BioMarin Pharmaceutical by 16.8% in the 2nd quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 279 shares in the last quarter. Toronto Dominion Bank grew its position in BioMarin Pharmaceutical by 12.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 243 shares in the last quarter. Commerce Bank bought a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $213,000. 99.25% of the stock is currently owned by institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).
Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.