BioMarin Pharmaceutical (NASDAQ:BMRN) has been assigned a $120.00 target price by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Friday, TipRanks reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 65.18% from the company’s current price.
A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. restated a “buy” rating and set a $133.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Thursday, May 23rd. Wedbush restated an “outperform” rating and set a $128.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, July 10th. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus set a $108.00 price target on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $115.33.
NASDAQ:BMRN traded down $0.15 during mid-day trading on Friday, reaching $72.65. 966,431 shares of the stock were exchanged, compared to its average volume of 991,765. The company has a 50 day simple moving average of $76.00 and a 200-day simple moving average of $83.87. The stock has a market capitalization of $13.06 billion, a P/E ratio of -220.15 and a beta of 1.32. The company has a quick ratio of 2.79, a current ratio of 4.11 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical has a 1 year low of $70.82 and a 1 year high of $106.74.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). The firm had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.09) EPS. As a group, research analysts predict that BioMarin Pharmaceutical will post -0.03 EPS for the current year.
In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $81.08, for a total value of $304,050.00. Following the transaction, the director now directly owns 27,340 shares in the company, valued at approximately $2,216,727.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of BMRN. Comerica Securities Inc. boosted its stake in shares of BioMarin Pharmaceutical by 23.9% in the fourth quarter. Comerica Securities Inc. now owns 3,197 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 617 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of BioMarin Pharmaceutical by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 1,643,507 shares of the biotechnology company’s stock valued at $139,844,000 after buying an additional 92,519 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 309,779 shares of the biotechnology company’s stock valued at $26,375,000 after buying an additional 21,009 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of BioMarin Pharmaceutical by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 6,940 shares of the biotechnology company’s stock valued at $616,000 after buying an additional 268 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of BioMarin Pharmaceutical by 1.8% in the first quarter. Janus Henderson Group PLC now owns 45,660 shares of the biotechnology company’s stock valued at $4,054,000 after buying an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 98.08% of the company’s stock.
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 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.
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