Published On: Sun, Sep 11th, 2016

BioMarin Pharmaceutical Inc. (BMRN) Rating Lowered to Hold at Vetr Inc.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They currently have a $103.86 target price on the stock. Vetr‘s price objective would suggest a potential upside of 10.45% from the company’s previous close.
Several other analysts also recently weighed in on the stock. Credit Suisse Group AG reaffirmed a “buy” rating and set a $114.00 price target (up previously from $103.00) on shares of BioMarin Pharmaceutical in a research note on Monday, June 13th. Wedbush reaffirmed a “neutral” rating and set a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, July 28th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating and set a $99.00 price target on shares of BioMarin Pharmaceutical in a research note on Wednesday, April 6th. Robert W. Baird lifted their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Finally, Zacks Investment Research downgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $119.56.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 3.50% during mid-day trading on Monday, reaching $94.03. The company’s stock had a trading volume of 1,295,300 shares. The firm’s 50 day moving average is $95.71 and its 200 day moving average is $87.49. BioMarin Pharmaceutical has a one year low of $62.12 and a one year high of $133.94. The firm’s market cap is $15.37 billion.

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BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by $2.09. The firm earned $300.10 million during the quarter, compared to the consensus estimate of $278.75 million. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.51) EPS. On average, equities analysts anticipate that BioMarin Pharmaceutical will post ($3.96) earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 41,666 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $80.55, for a total value of $3,356,196.30. Following the sale, the chief executive officer now directly owns 420,250 shares of the company’s stock, valued at $33,851,137.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director V Bryan Lawlis sold 550 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $82.77, for a total transaction of $45,523.50. Following the completion of the sale, the director now directly owns 13,860 shares in the company, valued at $1,147,192.20. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
A number of large investors have bought and sold shares of BMRN. Rockefeller Financial Services Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $111,000. Meeder Asset Management Inc. acquired a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $140,000. LS Investment Advisors LLC raised its stake in BioMarin Pharmaceutical by 13.5% in the second quarter. LS Investment Advisors LLC now owns 1,946 shares of the company’s stock valued at $151,000 after buying an additional 231 shares during the last quarter. NEXT Financial Group Inc raised its stake in BioMarin Pharmaceutical by 244.3% in the second quarter. NEXT Financial Group Inc now owns 1,980 shares of the company’s stock valued at $154,000 after buying an additional 1,405 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in BioMarin Pharmaceutical by 22.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,445 shares of the company’s stock valued at $202,000 after buying an additional 450 shares during the last quarter. 93.13% of the stock is currently owned by institutional investors.
BioMarin Pharmaceutical Company Profile
BioMarin Pharmaceutical Inc (BioMarin) develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. Its approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).
To view Vetr’s full report, visit Vetr’s official website.

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