J P Morgan Chase & Co set a $130.00 price target on BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report sent to investors on Sunday, October 29th. The firm currently has a buy rating on the biotechnology company’s stock.
Several other research firms have also issued reports on BMRN. Zacks Investment Research lowered BioMarin Pharmaceutical from a hold rating to a sell rating in a research report on Monday, October 16th. Morgan Stanley reiterated an overweight rating and set a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Jefferies Group LLC restated a buy rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, September 26th. Finally, Piper Jaffray Companies began coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued an overweight rating and a $113.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $111.55.
Shares of BioMarin Pharmaceutical (NASDAQ BMRN) opened at $81.41 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41. BioMarin Pharmaceutical has a 12 month low of $79.50 and a 12 month high of $100.51.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) EPS 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 analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. research analysts anticipate that BioMarin Pharmaceutical will post -0.66 EPS for the current fiscal year.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $334,495.00. Following the transaction, the executive vice president now owns 49,299 shares in the company, valued at $4,683,405. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $90.50, for a total value of $1,357,500.00. Following the completion of the transaction, 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. In the last three months, insiders sold 40,686 shares of company stock valued at $3,736,318. Insiders own 1.85% of the company’s stock.
Several hedge funds have recently bought and sold shares of BMRN. Dimensional Fund Advisors LP lifted its holdings in BioMarin Pharmaceutical by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 188,147 shares of the biotechnology company’s stock worth $16,517,000 after acquiring an additional 7,501 shares during the period. Schwab Charles Investment Management Inc. increased its position in BioMarin Pharmaceutical by 8.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 275,810 shares of the biotechnology company’s stock worth $24,211,000 after buying an additional 21,621 shares during the last quarter. Barings LLC purchased a new stake in BioMarin Pharmaceutical in the first quarter worth $458,000. Achmea Investment Management B.V. purchased a new stake in BioMarin Pharmaceutical in the first quarter worth $224,000. Finally, First American Trust FSB increased its position in BioMarin Pharmaceutical by 0.3% in the second quarter. First American Trust FSB now owns 26,696 shares of the biotechnology company’s stock worth $2,424,000 after buying an additional 73 shares during the last quarter. 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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