BioMarin Pharmaceutical Inc. (BMRN) to Post FY2017 Earnings of ($0.58) Per Share, SunTrust Banks Forecasts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Research analysts at SunTrust Banks lifted their FY2017 earnings per share estimates for shares of BioMarin Pharmaceutical in a report issued on Monday. SunTrust Banks analyst E. Nash now forecasts that the biotechnology company will earn ($0.58) per share for the year, up from their previous estimate of ($0.80). SunTrust Banks currently has a “Buy” rating and a $115.00 target price on the stock. SunTrust Banks also issued estimates for BioMarin Pharmaceutical’s Q4 2017 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.17) EPS, FY2018 earnings at ($0.51) EPS, FY2019 earnings at $0.36 EPS, FY2020 earnings at ($0.02) EPS and FY2021 earnings at $0.28 EPS.

A number of other equities research analysts have also recently weighed in on the stock. J P Morgan Chase & Co set a $130.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Sunday. BMO Capital Markets boosted their price target on shares of BioMarin Pharmaceutical from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Stifel Nicolaus reduced their price target on shares of BioMarin Pharmaceutical from $107.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Leerink Swann reissued an “outperform” rating and issued a $142.00 price target (up from $136.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, October 19th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $124.00 price target (up from $114.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and an average target price of $111.55.

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BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The company had revenue of $334.18 million during the quarter, compared to analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.61% and a negative net margin of 12.45%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS.

In other BioMarin Pharmaceutical news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the transaction, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Baffi sold 18,415 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the transaction, the executive vice president now owns 129,083 shares in the company, valued at $11,931,141.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,686 shares of company stock worth $3,736,318. Company insiders own 1.85% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in BioMarin Pharmaceutical by 4.7% during the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after buying an additional 642,623 shares during the period. Jennison Associates LLC grew its position in BioMarin Pharmaceutical by 33.8% during the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after buying an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC grew its position in BioMarin Pharmaceutical by 63.7% during the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after buying an additional 875,686 shares during the period. Manning & Napier Advisors LLC grew its position in BioMarin Pharmaceutical by 25.2% during the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the period. Finally, Pictet Asset Management Ltd. grew its position in BioMarin Pharmaceutical by 17.0% during the third quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after buying an additional 164,788 shares during the period. Institutional investors own 97.58% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Earnings History and Estimates for BioMarin Pharmaceutical (NASDAQ:BMRN)

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