BioMarin Pharmaceutical (BMRN) Stock Price Up 5.1%

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares rose 5.1% on Monday . The company traded as high as $93.02 and last traded at $93.02. Approximately 2,958,100 shares changed hands during mid-day trading, an increase of 137% from the average daily volume of 1,246,952 shares. The stock had previously closed at $88.53.

BMRN has been the topic of a number of recent research reports. Jefferies Group set a $116.00 target price on BioMarin Pharmaceutical and gave the company a “buy” rating in a report on Friday, August 25th. Citigroup initiated coverage on BioMarin Pharmaceutical in a report on Thursday, August 31st. They issued a “buy” rating and a $98.00 target price on the stock. Piper Jaffray Companies initiated coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued an “overweight” rating and a $113.00 target price on the stock. Royal Bank of Canada initiated coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 target price on the stock. Finally, BMO Capital Markets restated a “buy” rating on shares of BioMarin Pharmaceutical in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Buy” and a consensus target price of $112.35.

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 (NASDAQ:BMRN) last issued 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. The firm had revenue of $334.18 million for the quarter, compared to analyst estimates of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The business’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. equities analysts expect that BioMarin Pharmaceutical Inc. will post -0.64 earnings per share for the current fiscal year.

In other news, EVP Jeffrey Robert Ajer sold 3,521 shares of BioMarin Pharmaceutical stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $95.00, for a total value of $334,495.00. Following the completion of the transaction, the executive vice president now directly owns 49,299 shares in the company, valued at $4,683,405. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elaine J. Heron sold 800 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $88.90, for a total value of $71,120.00. Following the completion of the transaction, the director now owns 38,385 shares of the company’s stock, valued at $3,412,426.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,936 shares of company stock valued at $2,210,481. 1.85% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cigna Investments Inc. New grew its position in shares of BioMarin Pharmaceutical by 1.5% in the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after purchasing an additional 36 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in shares of BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after purchasing an additional 54 shares in the last quarter. Symphony Asset Management LLC grew its position in shares of BioMarin Pharmaceutical by 1.1% in the second quarter. Symphony Asset Management LLC now owns 6,465 shares of the biotechnology company’s stock valued at $587,000 after purchasing an additional 73 shares in the last quarter. Comerica Bank grew its position in shares of BioMarin Pharmaceutical by 1.0% in the second quarter. Comerica Bank now owns 7,358 shares of the biotechnology company’s stock valued at $662,000 after purchasing an additional 76 shares in the last quarter. Finally, Fiera Capital Corp grew its position in shares of BioMarin Pharmaceutical by 1.6% in the second quarter. Fiera Capital Corp now owns 6,613 shares of the biotechnology company’s stock valued at $601,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

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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).

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