BioMarin Pharmaceutical (BMRN) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a strong sell rating to a sell rating in a research report report published on Saturday morning.

Several other equities analysts have also recently issued reports on BMRN. Jefferies Group set a $116.00 target price on BioMarin Pharmaceutical and gave the company a buy rating in a research note on Friday, August 25th. Citigroup started coverage on BioMarin Pharmaceutical in a research note on Thursday, August 31st. They issued a buy rating and a $98.00 price target on the stock. Piper Jaffray Companies started coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued an overweight rating and a $113.00 price target on the stock. Royal Bank of Canada started coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued a sector perform rating and a $93.00 price target on the stock. Finally, BMO Capital Markets reaffirmed a buy rating on shares of BioMarin Pharmaceutical in a research note on Friday, September 15th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $112.35.

BioMarin Pharmaceutical (BMRN) opened at $90.85 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.81 and a debt-to-equity ratio of 0.41. BioMarin Pharmaceutical has a 12 month low of $80.10 and a 12 month high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The firm had revenue of $334.18 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was up 19.4% compared to the same quarter last year. analysts predict that BioMarin Pharmaceutical will post -0.64 earnings per share for the current year.

In other news, EVP George Eric Davis sold 1,200 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $85.64, for a total value of $102,768.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elaine J. Heron sold 800 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $88.90, for a total value of $71,120.00. Following the completion of the sale, the director now directly owns 38,385 shares in the company, valued at $3,412,426.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,936 shares of company stock worth $2,210,481. Insiders own 1.85% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after acquiring an additional 642,623 shares during the last quarter. Jennison Associates LLC grew its stake in shares of BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after acquiring an additional 3,348,168 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of BioMarin Pharmaceutical by 63.7% in 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 acquiring an additional 875,686 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of BioMarin Pharmaceutical by 17.0% in the third quarter. Pictet Asset Management Ltd. now owns 1,134,622 shares of the biotechnology company’s stock worth $105,599,000 after acquiring an additional 164,788 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of BioMarin Pharmaceutical by 2.9% during the second quarter. Northern Trust Corp now owns 1,097,571 shares of the biotechnology company’s stock valued at $99,682,000 after purchasing an additional 31,113 shares in the last quarter. 99.02% of the stock is currently owned by hedge funds and other institutional investors.

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BioMarin Pharmaceutical Company Profile

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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