BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Leerink Swann lifted their FY2018 EPS estimates for shares of BioMarin Pharmaceutical in a report issued on Tuesday. Leerink Swann analyst J. Schwartz now expects that the firm will post earnings of $0.96 per share for the year, up from their prior estimate of $0.85. Leerink Swann currently has a “Outperform” rating and a $127.00 target price on the stock.
A number of other brokerages have also issued reports on BMRN. Vetr lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating and set a $103.86 price target on the stock. in a research note on Monday, August 1st. Barclays PLC raised their price target on BioMarin Pharmaceutical from $105.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Stifel Nicolaus raised their price target on BioMarin Pharmaceutical from $107.00 to $113.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Piper Jaffray Cos. raised their price target on BioMarin Pharmaceutical from $107.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, Jefferies Group raised their price target on BioMarin Pharmaceutical from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical has an average rating of “Buy” and a consensus price target of $118.31.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 2.11% during trading on Thursday, hitting $85.04. The stock had a trading volume of 1,238,159 shares. BioMarin Pharmaceutical has a one year low of $62.12 and a one year high of $118.48. The company’s market cap is $13.90 billion. The stock’s 50-day moving average price is $94.63 and its 200-day moving average price is $89.53.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $2.09. The business had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $278.75 million. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) earnings per share.
In related news, CEO Jean Jacques Bienaime sold 41,666 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $91.49, for a total transaction of $3,812,022.34. Following the completion of the transaction, the chief executive officer now owns 420,250 shares in the company, valued at approximately $38,448,672.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director V Bryan Lawlis sold 6,400 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $95.01, for a total value of $608,064.00. Following the transaction, the director now owns 20,260 shares of the company’s stock, valued at approximately $1,924,902.60. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. raised its position in BioMarin Pharmaceutical by 316.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,052,900 shares of the company’s stock worth $86,843,000 after buying an additional 800,000 shares in the last quarter. ING Groep NV bought a new position in BioMarin Pharmaceutical during the second quarter worth about $57,357,000. Pictet Asset Management Ltd. raised its position in BioMarin Pharmaceutical by 265.1% in the second quarter. Pictet Asset Management Ltd. now owns 968,295 shares of the company’s stock worth $86,808,000 after buying an additional 703,112 shares in the last quarter. Palo Alto Investors LLC raised its position in BioMarin Pharmaceutical by 29.6% in the second quarter. Palo Alto Investors LLC now owns 1,737,399 shares of the company’s stock worth $135,170,000 after buying an additional 397,052 shares in the last quarter. Finally, Eaton Vance Management raised its position in BioMarin Pharmaceutical by 728.2% in the second quarter. Eaton Vance Management now owns 414,874 shares of the company’s stock worth $32,277,000 after buying an additional 364,780 shares in the last quarter. Institutional investors and hedge funds own 93.02% of the company’s stock.
About BioMarin Pharmaceutical
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).
Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.