BioMarin Pharmaceutical Inc. (BMRN) Given a $150.00 Price Target by Cowen and Company Analysts
BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned a $150.00 target price by Cowen and Company in a report issued on Thursday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s price objective would indicate a potential upside of 59.52% from the stock’s current price.
A number of other research analysts also recently issued reports on BMRN. Goldman Sachs Group Inc. reissued a “buy” rating and set a $126.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, June 1st. Royal Bank Of Canada reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, May 31st. Leerink Swann reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, June 1st. Oppenheimer Holdings Inc. reissued a “hold” rating and set a $99.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, June 1st. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently 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 Thursday, hitting $94.03. 1,295,300 shares of the stock traded hands. The company’s market capitalization is $15.37 billion. BioMarin Pharmaceutical has a 1-year low of $62.12 and a 1-year high of $133.94. The company’s 50-day moving average price is $95.71 and its 200 day moving average price is $87.49.
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BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($2.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $2.09. The company had revenue of $300.10 million for the quarter, compared to analysts’ expectations of $278.75 million. BioMarin Pharmaceutical had a negative net margin of 54.53% and a negative return on equity of 11.99%. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.51) earnings per share. Equities research analysts forecast that BioMarin Pharmaceutical will post ($3.96) EPS for the current fiscal year.
In related news, CEO Jean Jacques Bienaime sold 41,666 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 420,250 shares of the company’s stock, valued at approximately $33,851,137.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry J. Fuchs sold 15,000 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $95.06, for a total transaction of $1,425,900.00. Following the completion of the sale, the executive vice president now directly owns 128,878 shares of the company’s stock, valued at $12,251,142.68. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BMRN. Rockefeller Financial Services Inc. purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $111,000. Meeder Asset Management Inc. purchased a new stake in BioMarin Pharmaceutical during the second quarter valued at about $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 in 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 in 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 in the last quarter. 93.13% of the stock is 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).
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