BioMarin Pharmaceutical (NASDAQ:BMRN) received a $126.00 target price from research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Sunday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 24.35% from the company’s previous close.
Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a $135.00 price objective on shares of BioMarin Pharmaceutical in a research report on Sunday, August 5th. Zacks Investment Research raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Barclays reissued a “hold” rating and issued a $98.00 price objective (up from $95.00) on shares of BioMarin Pharmaceutical in a research report on Sunday, August 5th. ValuEngine lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, September 1st. Finally, Wedbush set a $120.00 price objective on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus price target of $116.12.
BMRN stock opened at $101.33 on Friday. BioMarin Pharmaceutical has a 1-year low of $75.81 and a 1-year high of $106.20. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.83 and a quick ratio of 2.24. The stock has a market capitalization of $17.22 billion, a PE ratio of -151.57 and a beta of 1.61.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). BioMarin Pharmaceutical had a negative return on equity of 3.00% and a negative net margin of 8.68%. The business had revenue of $372.80 million during the quarter, compared to the consensus estimate of $359.25 million. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post -0.24 earnings per share for the current year.
In related news, CEO Jean Jacques Bienaime sold 1,500 shares of the business’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $101.69, for a total value of $152,535.00. Following the completion of the sale, the chief executive officer now directly owns 286,790 shares of the company’s stock, valued at approximately $29,163,675.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Robert Baffi sold 5,173 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $105.00, for a total value of $543,165.00. Following the completion of the sale, the executive vice president now directly owns 83,276 shares of the company’s stock, valued at $8,743,980. The disclosure for this sale can be found here. Insiders sold a total of 75,023 shares of company stock valued at $7,497,878 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Nissay Asset Management Corp Japan ADV increased its position in BioMarin Pharmaceutical by 4.8% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 12,078 shares of the biotechnology company’s stock valued at $1,138,000 after buying an additional 556 shares in the last quarter. Scout Investments Inc. increased its position in BioMarin Pharmaceutical by 125.6% in the 2nd quarter. Scout Investments Inc. now owns 214,099 shares of the biotechnology company’s stock valued at $20,168,000 after buying an additional 119,185 shares in the last quarter. Gideon Capital Advisors Inc. bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $411,000. Worldquant Millennium Quantitative Strategies LLC bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at about $13,166,000. Finally, International Biotechnology Trust PLC increased its position in BioMarin Pharmaceutical by 49.0% in the 2nd quarter. International Biotechnology Trust PLC now owns 97,284 shares of the biotechnology company’s stock valued at $9,164,000 after buying an additional 32,000 shares in 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.
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