BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been given an average recommendation of “Buy” by the twenty-three brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $108.83.
Several research analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday. Deutsche Bank set a $124.00 price objective on shares of BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, February 23rd. Credit Suisse Group boosted their price objective on shares of BioMarin Pharmaceutical from $113.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, March 2nd. Leerink Swann dropped their price objective on shares of BioMarin Pharmaceutical from $142.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $125.00 price objective (up previously from $119.00) on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd.
In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 2,972 shares of BioMarin Pharmaceutical stock in a transaction on Friday, March 9th. The shares were sold at an average price of $82.39, for a total transaction of $244,863.08. Following the completion of the sale, the executive vice president now owns 55,332 shares of the company’s stock, valued at approximately $4,558,803.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Eric Davis sold 30,000 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total transaction of $2,719,800.00. Following the sale, the executive vice president now directly owns 112,942 shares of the company’s stock, valued at approximately $10,239,321.72. The disclosure for this sale can be found here. Insiders have sold a total of 103,827 shares of company stock valued at $9,243,242 in the last ninety days. Company insiders own 1.85% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Xact Kapitalforvaltning AB grew its holdings in shares of BioMarin Pharmaceutical by 10.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 23,186 shares of the biotechnology company’s stock valued at $2,067,000 after buying an additional 2,212 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of BioMarin Pharmaceutical by 6.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,584 shares of the biotechnology company’s stock valued at $10,485,000 after buying an additional 7,517 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in shares of BioMarin Pharmaceutical by 64.6% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,410 shares of the biotechnology company’s stock valued at $750,000 after buying an additional 3,300 shares during the period. Slow Capital Inc. acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $615,000. Finally, Endurant Capital Management LP acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at $901,000.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up $0.33 during trading hours on Friday, hitting $83.90. 627,782 shares of the stock were exchanged, compared to its average volume of 1,346,764. BioMarin Pharmaceutical has a 52 week low of $77.04 and a 52 week high of $100.51. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $15,133.41, a PE ratio of -125.07 and a beta of 1.74.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%. The firm had revenue of $358.31 million during the quarter, compared to the consensus estimate of $346.24 million. analysts anticipate that BioMarin Pharmaceutical will post -0.71 earnings per share for the current fiscal year.
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About BioMarin Pharmaceutical
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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