BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Research Coverage Started at Sanford C. Bernstein
Sanford C. Bernstein assumed coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report released on Thursday, Marketbeat reports. The brokerage issued a market perform rating and a $89.00 price objective on the biotechnology company’s stock.
Several other equities analysts also recently commented on the company. BidaskClub downgraded BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, July 24th. Barclays PLC restated an equal weight rating and issued a $100.00 price objective (down from $105.00) on shares of BioMarin Pharmaceutical in a research report on Saturday, July 22nd. Zacks Investment Research downgraded BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research report on Wednesday, July 19th. Leerink Swann reiterated a buy rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, July 18th. Finally, ValuEngine downgraded BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $109.77.
BioMarin Pharmaceutical (BMRN) traded down 0.7919% during mid-day trading on Thursday, hitting $87.6404. The company’s stock had a trading volume of 355,447 shares. The stock’s market cap is $15.29 billion. The company’s 50 day moving average is $90.53 and its 200-day moving average is $89.98. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.49.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative return on equity of 22.71% and a negative net margin of 48.43%. The business had revenue of $303.70 million for the quarter, compared to the consensus estimate of $292.58 million. During the same period in the previous year, the business earned ($0.53) earnings per share. The business’s revenue was up 28.3% on a year-over-year basis. On average, equities analysts predict that BioMarin Pharmaceutical will post ($0.79) EPS for the current fiscal year.
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In other news, EVP George Eric Davis sold 2,500 shares of the stock in a transaction on Friday, May 5th. The stock was sold at an average price of $100.34, for a total transaction of $250,850.00. Following the completion of the sale, the executive vice president now owns 85,251 shares in the company, valued at approximately $8,554,085.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Robert Ajer sold 302 shares of the stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $96.74, for a total value of $29,215.48. Following the sale, the executive vice president now owns 51,834 shares of the company’s stock, valued at approximately $5,014,421.16. The disclosure for this sale can be found here. Insiders have sold a total of 82,024 shares of company stock worth $7,587,926 in the last ninety days. Insiders own 2.50% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at approximately $298,000. Rice Hall James & Associates LLC raised its stake in shares of BioMarin Pharmaceutical by 2.9% in the first quarter. Rice Hall James & Associates LLC now owns 8,841 shares of the biotechnology company’s stock valued at $776,000 after buying an additional 253 shares in the last quarter. DnB Asset Management AS raised its stake in shares of BioMarin Pharmaceutical by 17.3% in the first quarter. DnB Asset Management AS now owns 19,000 shares of the biotechnology company’s stock valued at $1,668,000 after buying an additional 2,800 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of BioMarin Pharmaceutical by 18.8% in the first quarter. Capstone Asset Management Co. now owns 7,268 shares of the biotechnology company’s stock valued at $638,000 after buying an additional 1,150 shares in the last quarter. Finally, National Pension Service raised its stake in shares of BioMarin Pharmaceutical by 8.5% in the first quarter. National Pension Service now owns 147,473 shares of the biotechnology company’s stock valued at $13,143,000 after buying an additional 11,552 shares in the last quarter. Hedge funds and other institutional investors own 96.77% 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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