BioMarin Pharmaceutical’s (BMRN) “Neutral” Rating Reiterated at Wedbush
Wedbush reissued their neutral rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report report published on Wednesday morning. The firm currently has a $108.00 price objective on the biotechnology company’s stock.
A number of other analysts have also recently weighed in on BMRN. Leerink Swann reiterated a buy rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 18th. Zacks Investment Research cut shares of BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a research note on Wednesday, July 19th. Barclays PLC restated an equal weight rating and issued a $100.00 target price (down previously from $105.00) on shares of BioMarin Pharmaceutical in a research note on Saturday, July 22nd. BidaskClub cut shares of BioMarin Pharmaceutical from a hold rating to a sell rating in a research note on Monday, July 24th. Finally, Sanford C. Bernstein assumed coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a market perform rating and a $89.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $111.55.
BioMarin Pharmaceutical (NASDAQ:BMRN) opened at $82.88 on Wednesday. BioMarin Pharmaceutical has a twelve month low of $79.50 and a twelve month high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $334.18 million during the quarter, compared to analysts’ expectations of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. BioMarin Pharmaceutical’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 EPS. equities analysts expect that BioMarin Pharmaceutical will post -0.65 EPS for the current fiscal year.
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In other news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the sale, the director now owns 19,660 shares in the company, valued at $1,794,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry J. Fuchs sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 owns 141,422 shares in the company, valued at approximately $12,798,691. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,686 shares of company stock worth $3,736,318. 1.85% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of BioMarin Pharmaceutical by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 188,147 shares of the biotechnology company’s stock worth $16,517,000 after buying an additional 7,501 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of BioMarin Pharmaceutical by 2.6% in the second quarter. Capstone Asset Management Co. now owns 7,458 shares of the biotechnology company’s stock worth $677,000 after buying an additional 190 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of BioMarin Pharmaceutical by 10.3% in the second quarter. State of Alaska Department of Revenue now owns 3,751 shares of the biotechnology company’s stock worth $340,000 after buying an additional 350 shares during the last quarter. Aperio Group LLC increased its stake in shares of BioMarin Pharmaceutical by 9.7% in the second quarter. Aperio Group LLC now owns 56,491 shares of the biotechnology company’s stock worth $5,131,000 after buying an additional 5,006 shares during the last quarter. Finally, Highland Capital Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $452,000. Institutional investors own 96.89% 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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