BioMarin Pharmaceutical Inc. (BMRN) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report sent to investors on Thursday, July 13th. They currently have a $115.00 price objective on the biotechnology company’s stock, up from their prior price objective of $111.00.

A number of other equities analysts also recently commented on the company. Cowen and Company restated a buy rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. ValuEngine upgraded BioMarin Pharmaceutical from a sell rating to a hold rating in a research note on Thursday, June 15th. Jefferies Group LLC restated a buy rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, May 15th. Wedbush reaffirmed a hold rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, May 8th. Finally, Zacks Investment Research raised BioMarin Pharmaceutical from a hold rating to a buy rating and set a $107.00 price target on the stock in a report on Monday, May 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $110.20.

BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.54% during mid-day trading on Thursday, reaching $82.40. The company’s stock had a trading volume of 1,226,111 shares. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $102.06. The firm’s market capitalization is $14.44 billion. The stock’s 50-day moving average is $89.42 and its 200-day moving average is $89.99.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. During the same period in the previous year, the firm posted ($2.61) earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts anticipate that BioMarin Pharmaceutical will post ($0.71) EPS for the current year.

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In other BioMarin Pharmaceutical news, SVP Brian Mueller sold 2,671 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.00, for a total transaction of $267,100.00. Following the transaction, the senior vice president now directly owns 15,556 shares in the company, valued at approximately $1,555,600. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $88.38, for a total transaction of $441,900.00. Following the transaction, the chief executive officer now owns 238,564 shares in the company, valued at $21,084,286.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,740 shares of company stock worth $5,659,589. Corporate insiders own 2.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of BMRN. Jennison Associates LLC boosted its position in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after buying an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after buying an additional 875,686 shares in the last quarter. Primecap Management Co. CA boosted its position in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after buying an additional 826,320 shares in the last quarter. USS Investment Management Ltd boosted its position in BioMarin Pharmaceutical by 214.7% in the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after buying an additional 743,599 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after buying an additional 642,623 shares in the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

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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