Cowen restated their buy rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Monday, December 16th, AnalystRatings.com reports. Cowen currently has a $150.00 price target on the biotechnology company’s stock.
Several other equities research analysts have also recently issued reports on BMRN. Stifel Nicolaus set a $108.00 price objective on shares of BioMarin Pharmaceutical and gave the company a buy rating in a research report on Friday, September 13th. Nomura reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $77.00 in a research report on Thursday, October 24th. Barclays upgraded shares of BioMarin Pharmaceutical from an equal weight rating to an overweight rating and lifted their price objective for the company from $86.00 to $98.00 in a research report on Wednesday, November 27th. Canaccord Genuity reduced their price target on shares of BioMarin Pharmaceutical from $117.00 to $108.00 and set a buy rating on the stock in a research report on Monday, October 28th. Finally, Zacks Investment Research cut shares of BioMarin Pharmaceutical from a buy rating to a hold rating and set a $79.00 price target on the stock. in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $110.41.
NASDAQ BMRN traded up $0.50 on Monday, reaching $84.71. 912,986 shares of the stock were exchanged, compared to its average volume of 1,031,001. BioMarin Pharmaceutical has a one year low of $62.88 and a one year high of $100.13. The firm has a market capitalization of $15.13 billion, a PE ratio of -256.70 and a beta of 1.32. The company’s 50-day simple moving average is $82.08 and its two-hundred day simple moving average is $77.22. The company has a current ratio of 3.77, a quick ratio of 2.53 and a debt-to-equity ratio of 0.27.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The company had revenue of $461.10 million for the quarter, compared to analysts’ expectations 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 was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. Sell-side analysts forecast that BioMarin Pharmaceutical will post 0.01 earnings per share for the current fiscal 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 shares were sold at an average price of $79.66, for a total transaction of $254,115.40. Following the completion of the sale, the executive vice president now directly owns 68,709 shares of the company’s stock, valued at $5,473,358.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $69.55, for a total value of $347,750.00. Following the completion of the sale, the chief executive officer now owns 332,520 shares of the company’s stock, valued at $23,126,766. The disclosure for this sale can be found here. Insiders have sold 26,940 shares of company stock valued at $2,121,265 over the last ninety days. 1.97% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in BMRN. Nuveen Asset Management LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $258,055,000. York Capital Management Global Advisors LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $95,648,000. Scout Investments Inc. boosted its position in BioMarin Pharmaceutical by 246.0% in the 4th quarter. Scout Investments Inc. now owns 401,147 shares of the biotechnology company’s stock worth $33,917,000 after purchasing an additional 285,203 shares in the last quarter. Marshall Wace LLP boosted its position in BioMarin Pharmaceutical by 59,167.2% in the 2nd quarter. Marshall Wace LLP now owns 282,112 shares of the biotechnology company’s stock worth $24,162,000 after purchasing an additional 281,636 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $21,553,000. Institutional investors and hedge funds own 95.51% of the company’s stock.
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 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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