Goldman Sachs Group Inc. upgraded shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to a neutral rating in a report issued on Friday morning, The Fly reports.
A number of other analysts have also recently commented on the company. Vetr raised BioMarin Pharmaceutical from a buy rating to a strong-buy rating and set a $111.64 price target on the stock in a research report on Wednesday, August 24th. Credit Suisse Group AG restated a buy rating and issued a $114.00 price objective (up from $103.00) on shares of BioMarin Pharmaceutical in a report on Monday, June 13th. Wedbush restated a neutral rating and issued a $108.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, July 28th. Jefferies Group restated a buy rating on shares of BioMarin Pharmaceutical in a report on Wednesday, August 17th. Finally, Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating and set a $111.00 price objective for the company in a report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $120.35.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.92% during trading on Friday, hitting $94.37. The stock had a trading volume of 194,882 shares. BioMarin Pharmaceutical has a 52-week low of $62.12 and a 52-week high of $118.48. The company has a 50-day moving average price of $95.62 and a 200-day moving average price of $89.30. The company’s market cap is $15.43 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The company earned $300.10 million during the quarter, compared to the consensus estimate of $278.75 million. During the same period in the prior year, the firm earned ($0.51) earnings per share. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. Equities research analysts forecast that BioMarin Pharmaceutical will post ($3.95) EPS for the current year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 41,666 shares of the stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $92.72, for a total transaction of $3,863,271.52. Following the completion of the transaction, the chief executive officer now owns 420,250 shares of the company’s stock, valued at approximately $38,965,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian Mueller sold 287 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the transaction, the vice president now directly owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Financial Services Inc. bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Independent Portfolio Consultants Inc. bought a new position in BioMarin Pharmaceutical during the third quarter valued at approximately $121,000. Meeder Asset Management Inc. bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $140,000. Mutual of America Capital Management LLC increased its position in BioMarin Pharmaceutical by 930.0% in the second quarter. Mutual of America Capital Management LLC now owns 1,854 shares of the company’s stock valued at $144,000 after buying an additional 1,674 shares during the period. Finally, LS Investment Advisors LLC increased its position in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the period. 93.02% of the stock is owned by institutional investors and hedge funds.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
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