Citigroup Inc. Begins Coverage on BioMarin Pharmaceutical Inc. (BMRN)
Research analysts at Citigroup Inc. assumed coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a report issued on Thursday. The brokerage set a “buy” rating and a $98.00 price target on the biotechnology company’s stock. Citigroup Inc.’s price target would suggest a potential upside of 11.81% from the stock’s previous close.
Several other analysts also recently commented on the company. Leerink Swann reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. Cowen and Company reaffirmed a “buy” rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Zacks Investment Research raised BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price objective on the stock in a research note on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, May 5th. Finally, Wedbush reaffirmed a “hold” rating and set a $108.00 price objective on shares of BioMarin Pharmaceutical in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $108.77.
BioMarin Pharmaceutical (BMRN) traded up 1.36% on Thursday, reaching $88.84. 314,553 shares of the company traded hands. The stock’s market capitalization is $15.57 billion. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $101.27. The stock’s 50-day moving average is $86.39 and its 200-day moving average is $89.64.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted ($2.61) EPS. Equities research analysts expect that BioMarin Pharmaceutical will post ($0.72) EPS for the current year.
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In related news, EVP George Eric Davis sold 9,844 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the transaction, the executive vice president now owns 93,425 shares in the company, valued at $9,024,855. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the transaction, the senior vice president now owns 15,556 shares of the company’s stock, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders have sold 51,740 shares of company stock valued at $4,759,039 in the last quarter. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares in the last quarter. Korea Investment CORP boosted its stake in shares of BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after buying an additional 940 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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).
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