Published On: Mon, Sep 12th, 2016

BioMarin Pharmaceutical (BMRN) – Research Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for BioMarin Pharmaceutical (NASDAQ: BMRN):

9/8/2016 – BioMarin Pharmaceutical was given a new $150.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
9/7/2016 – BioMarin Pharmaceutical had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co..
9/6/2016 – BioMarin Pharmaceutical had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $104.00 price target on the stock, down previously from $108.00.
8/24/2016 – BioMarin Pharmaceutical was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $111.64 price target on the stock.
8/23/2016 – BioMarin Pharmaceutical was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $110.24 price target on the stock.
8/19/2016 – BioMarin Pharmaceutical had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos..
8/17/2016 – BioMarin Pharmaceutical had its “buy” rating reaffirmed by analysts at Jefferies Group.
8/11/2016 – BioMarin Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BioMarin’s second-quarter performance was impressive, with the company reporting a narrower-than-expected loss and revenues surpassing expectations. Both Vimizim and Kuvan drove top-line growth. The company’s raised 2016 outlook for revenues backed by Vimizim and Kuvan was also impressive. BioMarin continues to expect break-even or better results in 2017. The company narrowed its loss guidance to the range of $30 million to $50 million buoyed by continued strong top-line growth and operating expense discipline. The company has several pipeline updates and data readouts lined up for the upcoming quarters, which could act as catalysts. However, generic challenges for Kuvan are a concern. The company also suffered a setback related to Duchenne muscular dystrophy candidate, Kyndrisa, and has decided to discontinue development of the candidate. Additional setbacks on the development/regulatory front could pull down the stock significantly.”
8/9/2016 – BioMarin Pharmaceutical was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $111.00 price target on the stock. According to Zacks, “BioMarin’s second-quarter performance was impressive, with the company reporting a narrower-than-expected loss and revenues surpassing expectations. Both Vimizim and Kuvan drove top-line growth. The company’s raised 2016 outlook for revenues backed by Vimizim and Kuvan was also impressive. BioMarin continues to expect break-even or better results in 2017. The company narrowed its loss guidance to the range of $30 million to $50 million buoyed by continued strong top-line growth and operating expense discipline. The company has several pipeline updates and data readouts lined up for the upcoming quarters, which could act as catalysts. However, generic challenges for Kuvan are a concern. The company also suffered a setback related to Duchenne muscular dystrophy candidate, Kyndrisa, and has decided to discontinue development of the candidate. Additional setbacks on the development/regulatory front could pull down the stock significantly.”
8/9/2016 – BioMarin Pharmaceutical was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $110.24 price target on the stock.
8/8/2016 – BioMarin Pharmaceutical was given a new $111.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
8/5/2016 – BioMarin Pharmaceutical had its price target raised by analysts at Barclays PLC from $105.00 to $125.00. They now have an “overweight” rating on the stock.
8/5/2016 – BioMarin Pharmaceutical had its price target raised by analysts at Stifel Nicolaus from $107.00 to $113.00. They now have a “buy” rating on the stock.
8/5/2016 – BioMarin Pharmaceutical had its price target raised by analysts at Piper Jaffray Cos. from $107.00 to $120.00. They now have an “overweight” rating on the stock.
8/5/2016 – BioMarin Pharmaceutical had its price target raised by analysts at Jefferies Group from $116.00 to $120.00. They now have a “buy” rating on the stock.
8/5/2016 – BioMarin Pharmaceutical had its price target raised by analysts at JPMorgan Chase & Co. from $120.00 to $127.00. They now have an “overweight” rating on the stock.
8/2/2016 – BioMarin Pharmaceutical was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $110.24 price target on the stock.
8/1/2016 – BioMarin Pharmaceutical was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $103.86 price target on the stock.
7/28/2016 – BioMarin Pharmaceutical had its price target raised by analysts at Robert W. Baird from $110.00 to $115.00. They now have an “outperform” rating on the stock.
7/28/2016 – BioMarin Pharmaceutical had its “outperform” rating reaffirmed by analysts at Leerink Swann. They now have a $107.00 price target on the stock.
7/28/2016 – BioMarin Pharmaceutical had its “buy” rating reaffirmed by analysts at Cowen and Company. They wrote, “We believe 2H16 conservatism leaves shares poised to move higher.   We look favorably on TMO’s Q2 result and updated 2016 outlook, which includes a faster rate of organic revenue growth (+~4.5% vs. prior ~+4%) and operating margin expansion at the high end of previous guidance (+60-70 bps y/y vs. prior +50-70 bps). We continue to believe that TMO’s diversification and broad-based growth will insulate the co.’s performance, and like mgmt’s conservative strategy of leaving a recovery in industrials (~10% of sales/~50% of industrial/ applied sales) and stability in foreign exchange rates as upside.   China and the Pharma/Biotech end-market continue to lead growth, rising mid-teens on a mid-teens comp and high-single digits on a mid-teens comp, respectively. In China, softness in pure industrial has been more than offset by strength in applied (with an emphasis on environmental protection and food safety), healthcare, and life sciences (the convergence of tools, diagnostics, and precision medicine). While bioproduction was cited as the strongest of TMO’s Pharma/Biotech businesses in the quarter, growth in this end market remains solid across customer type, geography, and utility (e.g. production vs. research and discovery).””
7/28/2016 – BioMarin Pharmaceutical had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $108.00 price target on the stock.
7/28/2016 – BioMarin Pharmaceutical was given a new $111.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
7/28/2016 – BioMarin Pharmaceutical was given a new $116.00 price target on by analysts at Jefferies Group. They now have a “buy” rating on the stock.
7/28/2016 – BioMarin Pharmaceutical was given a new $116.00 price target on by analysts at William Blair. They now have a “buy” rating on the stock.
7/20/2016 – BioMarin Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BioMarin, a commercial-stage biopharmaceutical company, is focused on the development and commercialization of treatments for serious diseases. Key drugs Vimizim and Kuvan continue to perform well. The geographical expansion of Vimizim and growth in the number of patients on Kuvan should boost BioMarin’s performance. BioMarin expects to achieve break-even or better results in 2017. The company has several pipeline updates and data readouts lined up for the upcoming quarters, which could act as catalysts. Moreover, BioMarin is witnessing lower loss estimates ahead of second-quarter earnings release. However, generic challenges from several companies for Kuvan are a concern. The company also suffered a setback related to Kyndrisa for the treatment of Duchenne muscular dystrophy (DMD) and has decided to discontinue development of the candidate. Additional setbacks on the development/regulatory front could pull down the stock significantly.”
7/19/2016 – BioMarin Pharmaceutical was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $104.00 price target on the stock. According to Zacks, “BioMarin, a commercial-stage biopharmaceutical company, is focused on the development and commercialization of treatments for serious diseases. Key drugs Vimizim and Kuvan continue to perform well. The geographical expansion of Vimizim and growth in the number of patients on Kuvan should boost BioMarin’s performance. BioMarin expects to achieve break-even or better results in 2017. The company has several pipeline updates and data readouts lined up for the upcoming quarters, which could act as catalysts. Moreover, BioMarin is witnessing lower loss estimates ahead of second-quarter earnings release. However, generic challenges from several companies for Kuvan are a concern. The company also suffered a setback related to Kyndrisa for the treatment of Duchenne muscular dystrophy (DMD) and has decided to discontinue development of the candidate. Additional setbacks on the development/regulatory front could pull down the stock significantly.”
7/14/2016 – BioMarin Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BioMarin, a commercial-stage biopharmaceutical company, is focused on the development and commercialization of treatments for serious diseases. Key drugs Vimizim and Kuvan continue to perform well. The geographical expansion of Vimizim and growth in the number of patients on Kuvan should boost BioMarin’s performance. BioMarin expects to achieve break-even or better results in 2017. The company has several pipeline updates and data readouts lined up for the upcoming quarters, which could act as catalysts. Moreover, BioMarin is witnessing lower loss estimates ahead of second-quarter earnings release. However, generic challenges from several companies for Kuvan are a concern. The company also suffered a setback related to Kyndrisa for the treatment of Duchenne muscular dystrophy (DMD) and has decided to discontinue development of the candidate. Additional setbacks on the development/regulatory front could pull down the stock significantly.”

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) opened at 94.03 on Monday. The stock has a 50 day moving average of $95.71 and a 200-day moving average of $87.49. The stock’s market capitalization is $15.37 billion. BioMarin Pharmaceutical Inc. has a one year low of $62.12 and a one year high of $133.94.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by $2.09. BioMarin Pharmaceutical had a negative return on equity of 11.99% and a negative net margin of 54.53%. The business earned $300.10 million during the quarter, compared to analyst estimates of $278.75 million. During the same period in the previous year, the company earned ($0.51) EPS. BioMarin Pharmaceutical’s revenue was up 20.0% on a year-over-year basis. Equities analysts predict that BioMarin Pharmaceutical Inc. will post ($3.96) earnings per share for the current fiscal year.

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In related news, VP Brian Mueller sold 287 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $28,700.00. Following the completion of the sale, the vice president now directly owns 14,260 shares of the company’s stock, valued at approximately $1,426,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jean Jacques Bienaime sold 41,666 shares of the firm’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $80.55, for a total transaction 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 disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.
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).

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