BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s share price fell 1.4% during trading on Friday . The company traded as low as $81.28 and last traded at $80.26. 873,226 shares traded hands during trading, a decline of 36% from the average session volume of 1,354,814 shares. The stock had previously closed at $81.36.
A number of brokerages recently commented on BMRN. BMO Capital Markets reissued an “outperform” rating and set a $125.00 price target (up from $119.00) on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, December 22nd. SunTrust Banks increased their price target on BioMarin Pharmaceutical to $130.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Sunday, February 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $112.34.
The firm has a market cap of $15,154.54, a P/E ratio of -117.67 and a beta of 1.74. The company has a current ratio of 2.70, a quick ratio of 2.12 and a debt-to-equity ratio of 0.29.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative return on equity of 3.18% and a negative net margin of 8.91%. The business had revenue of $358.31 million during the quarter, compared to analysts’ expectations of $346.24 million. equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.71 EPS for the current fiscal year.
In other news, EVP Jeffrey Robert Ajer sold 2,972 shares of the stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $82.39, for a total value of $244,863.08. Following the sale, the executive vice president now directly owns 55,332 shares in the company, valued at $4,558,803.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP George Eric Davis sold 30,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $90.66, for a total value of $2,719,800.00. Following the completion of the sale, the executive vice president now owns 112,942 shares in the company, valued at $10,239,321.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,645 shares of company stock worth $10,834,446. Company insiders own 1.85% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Palo Alto Investors LLC raised its holdings in shares of BioMarin Pharmaceutical by 2.4% in the fourth quarter. Palo Alto Investors LLC now owns 2,497,806 shares of the biotechnology company’s stock worth $222,729,000 after buying an additional 59,287 shares during the period. Geode Capital Management LLC increased its holdings in BioMarin Pharmaceutical by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,446,179 shares of the biotechnology company’s stock worth $128,882,000 after purchasing an additional 19,011 shares during the period. UBS Asset Management Americas Inc. increased its holdings in BioMarin Pharmaceutical by 7.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,138,342 shares of the biotechnology company’s stock worth $101,506,000 after purchasing an additional 79,591 shares during the period. Fred Alger Management Inc. increased its holdings in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Fred Alger Management Inc. now owns 1,024,032 shares of the biotechnology company’s stock worth $91,313,000 after purchasing an additional 3,793 shares during the period. Finally, American Century Companies Inc. increased its holdings in BioMarin Pharmaceutical by 49.8% during the 4th quarter. American Century Companies Inc. now owns 920,762 shares of the biotechnology company’s stock worth $82,104,000 after purchasing an additional 305,900 shares during the period.
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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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