Barclays upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, November 27th, Benzinga reports. Barclays currently has $98.00 price objective on the biotechnology company’s stock, up from their previous price objective of $86.00.
A number of other equities research analysts also recently commented on BMRN. Nomura cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a research report on Thursday, October 24th. Citigroup reaffirmed a buy rating and set a $95.00 price target (down previously from $120.00) on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Cantor Fitzgerald set a $129.00 price objective on shares of BioMarin Pharmaceutical and gave the company a buy rating in a research report on Monday, October 21st. Bank of America started coverage on BioMarin Pharmaceutical in a research note on Wednesday, October 16th. They issued a buy rating and a $90.00 price target for the company. Finally, Zacks Investment Research lowered BioMarin Pharmaceutical from a buy rating to a hold rating and set a $79.00 price objective for the company. in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $110.41.
Shares of NASDAQ BMRN traded down $0.24 during trading on Wednesday, reaching $84.75. The company had a trading volume of 1,791,497 shares, compared to its average volume of 1,316,283. The business’s 50-day moving average is $78.30 and its 200 day moving average is $76.96. The stock has a market cap of $15.27 billion, a PE ratio of -256.82 and a beta of 1.31. BioMarin Pharmaceutical has a 12-month low of $62.88 and a 12-month high of $100.13. The company has a quick ratio of 2.53, a current ratio of 3.77 and a debt-to-equity ratio of 0.27.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The company had revenue of $461.10 million during the quarter, compared to analyst estimates of $455.78 million. BioMarin Pharmaceutical had a negative net margin of 2.65% and a negative return on equity of 1.35%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. On average, analysts anticipate that BioMarin Pharmaceutical will post 0.01 earnings per share for the current year.
In other news, EVP George Eric Davis sold 3,190 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $79.66, for a total value of $254,115.40. Following the completion of the transaction, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at approximately $5,473,358.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $83.36, for a total transaction of $312,600.00. Following the completion of the sale, the director now owns 27,340 shares in the company, valued at $2,279,062.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,940 shares of company stock worth $1,690,465. Corporate insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BB&T Securities LLC lifted its position in BioMarin Pharmaceutical by 4.0% during the 2nd quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock worth $295,000 after acquiring an additional 132 shares during the period. Metropolitan Life Insurance Co NY raised its stake in BioMarin Pharmaceutical by 1.2% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,172 shares of the biotechnology company’s stock valued at $888,000 after purchasing an additional 158 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in BioMarin Pharmaceutical by 73.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 173 shares in the last quarter. Avestar Capital LLC boosted its stake in BioMarin Pharmaceutical by 36.9% during the 2nd quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 202 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its stake in BioMarin Pharmaceutical by 2.6% during the 2nd quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock worth $695,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.
About BioMarin Pharmaceutical
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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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