BidaskClub Upgrades BioMarin Pharmaceutical (BMRN) to “Sell”

BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.

Several other brokerages also recently commented on BMRN. Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Goldman Sachs Group reaffirmed a “buy” rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $117.00 price objective (up previously from $115.00) on shares of BioMarin Pharmaceutical in a research report on Friday, October 6th. Jefferies Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies assumed coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set an “overweight” rating and a $113.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Buy” and an average price target of $112.35.

Shares of BioMarin Pharmaceutical (BMRN) opened at $93.02 on Friday. BioMarin Pharmaceutical has a 52-week low of $80.10 and a 52-week high of $100.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.81 and a current ratio of 4.91.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 EPS. equities analysts forecast that BioMarin Pharmaceutical will post -0.64 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 3,521 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total transaction of $334,495.00. Following the transaction, the executive vice president now directly owns 49,299 shares in the company, valued at approximately $4,683,405. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Baffi sold 18,415 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the transaction, the executive vice president now owns 129,083 shares in the company, valued at $11,931,141.69. The disclosure for this sale can be found here. In the last three months, insiders sold 23,136 shares of company stock valued at $2,139,361. 1.85% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after acquiring an additional 642,623 shares in the last quarter. Jennison Associates LLC lifted its stake in BioMarin Pharmaceutical by 33.8% during the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after acquiring an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in BioMarin Pharmaceutical by 63.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after acquiring an additional 875,686 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in BioMarin Pharmaceutical by 17.0% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock valued at $105,599,000 after acquiring an additional 164,788 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of BioMarin Pharmaceutical by 2.9% during the 2nd quarter. Northern Trust Corp now owns 1,097,571 shares of the biotechnology company’s stock worth $99,682,000 after purchasing an additional 31,113 shares during the period. Institutional investors and hedge funds own 99.25% of the company’s stock.

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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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