Wedbush set a $128.00 target price on BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report released on Thursday morning, TipRanks reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other brokerages have also recently weighed in on BMRN. BidaskClub cut BioMarin Pharmaceutical from a sell rating to a strong sell rating in a report on Friday. Piper Jaffray Companies set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Friday, September 13th. JPMorgan Chase & Co. restated a buy rating and set a $133.00 target price on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Finally, Stifel Nicolaus set a $108.00 target price on BioMarin Pharmaceutical and gave the stock a buy rating in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has an average rating of Buy and an average target price of $115.33.
NASDAQ:BMRN traded down $0.91 on Thursday, hitting $67.40. 1,467,372 shares of the stock were exchanged, compared to its average volume of 1,161,164. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of -204.24 and a beta of 1.32. BioMarin Pharmaceutical has a 52 week low of $67.24 and a 52 week high of $106.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.79 and a current ratio of 4.11. The company’s 50-day moving average price is $73.86 and its 200 day moving average price is $82.21.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.16). The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) earnings per share. As a group, equities research analysts predict that BioMarin Pharmaceutical will post -0.03 earnings per share for the current year.
In other news, Director V Bryan Lawlis sold 3,750 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total transaction of $279,262.50. Following the completion of the transaction, the director now directly owns 27,340 shares in the company, valued at approximately $2,036,009.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.97% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of BMRN. Doyle Wealth Management acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $26,000. Twin Tree Management LP acquired a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at approximately $36,000. Avestar Capital LLC grew its position in shares of BioMarin Pharmaceutical by 36.9% in the 2nd quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 202 shares during the period. Ossiam acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $67,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of BioMarin Pharmaceutical by 35.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,115 shares of the biotechnology company’s stock valued at $98,000 after purchasing an additional 289 shares during the period. Institutional investors own 97.93% of the company’s stock.
About BioMarin Pharmaceutical
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.
Further Reading: SEC Filing
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