BioMarin Pharmaceutical (BMRN) Now Covered by Analysts at Canaccord Genuity

Canaccord Genuity began coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note issued to investors on Wednesday, MarketBeat reports. The firm issued a buy rating and a $101.00 price target on the biotechnology company’s stock.

BMRN has been the subject of a number of other research reports. Sanford C. Bernstein decreased their target price on BioMarin Pharmaceutical from $97.00 to $92.00 and set a market perform rating for the company in a report on Monday, April 30th. BMO Capital Markets restated an outperform rating and set a $125.00 target price (up previously from $119.00) on shares of BioMarin Pharmaceutical in a report on Friday, February 23rd. BidaskClub upgraded BioMarin Pharmaceutical from a sell rating to a hold rating in a report on Tuesday, May 8th. ValuEngine upgraded BioMarin Pharmaceutical from a sell rating to a hold rating in a report on Friday, May 11th. Finally, Credit Suisse Group restated a buy rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, March 29th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $111.15.

Shares of BioMarin Pharmaceutical stock opened at $88.88 on Wednesday. The company has a quick ratio of 2.29, a current ratio of 2.90 and a debt-to-equity ratio of 0.29. The company has a market cap of $15.71 billion, a P/E ratio of -132.66 and a beta of 1.68. BioMarin Pharmaceutical has a 52 week low of $75.81 and a 52 week high of $100.03.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). The business had revenue of $358.31 million for the quarter, compared to the consensus estimate of $346.24 million. BioMarin Pharmaceutical had a negative net margin of 10.48% and a negative return on equity of 3.01%. equities analysts predict that BioMarin Pharmaceutical will post -0.12 earnings per share for the current fiscal year.

In other news, CEO Jean Jacques Bienaime sold 18,750 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $88.66, for a total value of $1,662,375.00. Following the sale, the chief executive officer now directly owns 309,350 shares of the company’s stock, valued at $27,426,971. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Brian Mueller sold 2,450 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $89.50, for a total value of $219,275.00. Following the completion of the sale, the senior vice president now directly owns 17,846 shares in the company, valued at $1,597,217. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,837 shares of company stock valued at $14,341,460. 1.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB grew its stake in shares of BioMarin Pharmaceutical by 7.5% in the first quarter. Xact Kapitalforvaltning AB now owns 24,923 shares of the biotechnology company’s stock worth $2,021,000 after acquiring an additional 1,737 shares during the last quarter. Millennium Management LLC grew its stake in shares of BioMarin Pharmaceutical by 1.7% in the first quarter. Millennium Management LLC now owns 645,400 shares of the biotechnology company’s stock worth $52,323,000 after acquiring an additional 10,536 shares during the last quarter. First Light Asset Management LLC grew its stake in shares of BioMarin Pharmaceutical by 2.0% in the first quarter. First Light Asset Management LLC now owns 31,850 shares of the biotechnology company’s stock worth $2,582,000 after acquiring an additional 637 shares during the last quarter. Palo Alto Investors LP grew its stake in shares of BioMarin Pharmaceutical by 1.9% in the first quarter. Palo Alto Investors LP now owns 2,545,482 shares of the biotechnology company’s stock worth $206,362,000 after acquiring an additional 47,676 shares during the last quarter. Finally, Highland Capital Management LP grew its stake in shares of BioMarin Pharmaceutical by 569.8% in the first quarter. Highland Capital Management LP now owns 16,410 shares of the biotechnology company’s stock worth $1,331,000 after acquiring an additional 13,960 shares during the last quarter.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply