Deutsche Bank AG reissued their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note issued to investors on Wednesday, August 9th. Deutsche Bank AG currently has a $119.00 price objective on the biotechnology company’s stock, up from their previous price objective of $118.00.
Other equities research analysts have also recently issued research reports about the company. BidaskClub cut BioMarin Pharmaceutical from a hold rating to a sell rating in a report on Monday, July 24th. Jefferies Group LLC restated a buy rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, May 15th. Stifel Nicolaus restated a buy rating and issued a $107.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, August 4th. Wedbush restated a neutral rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, August 7th. Finally, Cowen and Company reaffirmed a buy rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. BioMarin Pharmaceutical currently has an average rating of Hold and an average target price of $109.73.
BioMarin Pharmaceutical (NASDAQ BMRN) opened at 80.92 on Wednesday. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.06. The stock’s market cap is $14.18 billion. The stock has a 50 day moving average price of $87.59 and a 200 day moving average price of $89.88.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.61) EPS. On average, equities research analysts forecast that BioMarin Pharmaceutical will post ($0.72) EPS for the current year.
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In related news, EVP Jeffrey Robert Ajer sold 1,004 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $89.61, for a total value of $89,968.44. Following the transaction, the executive vice president now directly owns 47,944 shares of the company’s stock, valued at approximately $4,296,261.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jean Jacques Bienaime sold 5,000 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $88.38, for a total value of $441,900.00. Following the completion of the sale, the chief executive officer now owns 238,564 shares of the company’s stock, valued at $21,084,286.32. The disclosure for this sale can be found here. Insiders sold a total of 56,740 shares of company stock worth $5,200,939 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. bought a new stake in shares of BioMarin Pharmaceutical during the first quarter valued at about $114,000. Korea Investment CORP increased its stake in shares of BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 940 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 619 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 401 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.
BioMarin Pharmaceutical Company Profile
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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