BioMarin Pharmaceutical Inc. (NASDAQ:BMRN – Get Rating) – Investment analysts at Cantor Fitzgerald dropped their FY2022 earnings estimates for shares of BioMarin Pharmaceutical in a report released on Monday, January 23rd. Cantor Fitzgerald analyst O. Brayer now anticipates that the biotechnology company will earn $0.82 per share for the year, down from their prior forecast of $0.88. The consensus estimate for BioMarin Pharmaceutical’s current full-year earnings is $0.87 per share. Cantor Fitzgerald also issued estimates for BioMarin Pharmaceutical’s FY2023 earnings at $2.66 EPS.
Several other brokerages have also commented on BMRN. TheStreet upgraded shares of BioMarin Pharmaceutical from a “c” rating to a “b-” rating in a report on Thursday, October 27th. Canaccord Genuity Group started coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, January 18th. They issued a “hold” rating and a $119.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of BioMarin Pharmaceutical to $104.00 in a report on Wednesday, September 28th. JPMorgan Chase & Co. decreased their price objective on shares of BioMarin Pharmaceutical from $140.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, October 24th. Finally, Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $110.00 in a research report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $120.12.
BioMarin Pharmaceutical Stock Up 2.1 %
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The biotechnology company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. BioMarin Pharmaceutical had a net margin of 4.18% and a return on equity of 2.50%. The company had revenue of $505.30 million during the quarter, compared to analyst estimates of $516.03 million. During the same period in the prior year, the business posted ($0.03) EPS. The firm’s revenue was up 23.6% compared to the same quarter last year.
Institutional Trading of BioMarin Pharmaceutical
A number of institutional investors have recently made changes to their positions in BMRN. Altshuler Shaham Ltd bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $25,000. Quadrant Capital Group LLC raised its stake in BioMarin Pharmaceutical by 188.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 355 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 232 shares during the period. Baystate Wealth Management LLC bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $41,000. Acadian Asset Management LLC raised its stake in BioMarin Pharmaceutical by 395.4% during the 1st quarter. Acadian Asset Management LLC now owns 431 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 344 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in BioMarin Pharmaceutical by 1,014.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 535 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 487 shares during the period. Hedge funds and other institutional investors own 96.26% of the company’s stock.
Insider Activity at BioMarin Pharmaceutical
In related news, CEO Jean Jacques Bienaime sold 1,000 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total transaction of $106,890.00. Following the sale, the chief executive officer now directly owns 320,424 shares of the company’s stock, valued at approximately $34,250,121.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jeffrey Robert Ajer sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $86.12, for a total transaction of $258,360.00. Following the sale, the executive vice president now owns 41,088 shares of the company’s stock, valued at approximately $3,538,498.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jean Jacques Bienaime sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $106.89, for a total transaction of $106,890.00. Following the sale, the chief executive officer now directly owns 320,424 shares in the company, valued at approximately $34,250,121.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,380 shares of company stock valued at $4,706,718. 1.75% of the stock is owned by insiders.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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