Wedbush set a $120.00 target price on BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Thursday morning. The firm currently has a buy rating on the biotechnology company’s stock.
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 research note on Wednesday, August 1st. ValuEngine upgraded BioMarin Pharmaceutical from a sell rating to a hold rating in a research note on Monday, May 28th. Barclays restated a hold rating and issued a $98.00 target price (up previously from $95.00) on shares of BioMarin Pharmaceutical in a research note on Sunday, August 5th. Citigroup boosted their target price on BioMarin Pharmaceutical to $108.00 and gave the company a buy rating in a research note on Tuesday, May 29th. Finally, Canaccord Genuity upped their price objective on BioMarin Pharmaceutical from $105.00 to $113.00 and gave the stock a buy rating in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of Buy and an average price target of $116.28.
NASDAQ BMRN opened at $99.41 on Thursday. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of -148.37 and a beta of 1.63. The company has a current ratio of 2.83, a quick ratio of 2.24 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical has a 52 week low of $75.81 and a 52 week high of $106.20.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $372.80 million during the quarter, compared to the consensus estimate of $359.25 million. BioMarin Pharmaceutical had a negative net margin of 8.68% and a negative return on equity of 3.00%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.21) EPS. equities analysts expect that BioMarin Pharmaceutical will post -0.24 EPS for the current year.
In related news, Director V Bryan Lawlis sold 2,150 shares of the business’s stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $93.52, for a total transaction of $201,068.00. Following the transaction, the director now directly owns 21,310 shares of the company’s stock, valued at approximately $1,992,911.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elaine J. Heron sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $96.94, for a total value of $96,940.00. Following the transaction, the director now directly owns 41,685 shares in the company, valued at $4,040,943.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,617 shares of company stock worth $7,738,695. Company insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of BMRN. Senator Investment Group LP acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $94,200,000. Frontier Capital Management Co. LLC increased its holdings in shares of BioMarin Pharmaceutical by 42.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,210,472 shares of the biotechnology company’s stock worth $114,026,000 after acquiring an additional 362,531 shares during the last quarter. USS Investment Management Ltd increased its holdings in shares of BioMarin Pharmaceutical by 22.9% during the 1st quarter. USS Investment Management Ltd now owns 1,339,671 shares of the biotechnology company’s stock worth $111,869,000 after acquiring an additional 249,738 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of BioMarin Pharmaceutical by 68.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 427,999 shares of the biotechnology company’s stock worth $40,318,000 after acquiring an additional 173,850 shares during the last quarter. Finally, Waddell & Reed Financial Inc. increased its holdings in shares of BioMarin Pharmaceutical by 5.0% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 3,337,346 shares of the biotechnology company’s stock worth $314,378,000 after acquiring an additional 160,247 shares during the last quarter.
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 that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.
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