BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Wedbush boosted their FY2020 earnings estimates for shares of BioMarin Pharmaceutical in a report issued on Monday. Wedbush analyst L. Moussatos now expects that the biotechnology company will post earnings per share of $1.52 for the year, up from their previous estimate of $1.42. Wedbush has a “Outperform” rating and a $110.00 price objective on the stock. Wedbush also issued estimates for BioMarin Pharmaceutical’s FY2021 earnings at $2.53 EPS and FY2022 earnings at $5.14 EPS.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.06). The company had revenue of $358.31 million for the quarter, compared to analysts’ expectations of $346.24 million. BioMarin Pharmaceutical had a negative net margin of 8.91% and a negative return on equity of 3.18%.
BioMarin Pharmaceutical (BMRN) traded down $0.34 during mid-day trading on Wednesday, reaching $85.82. The company’s stock had a trading volume of 575,878 shares, compared to its average volume of 1,353,818. The company has a quick ratio of 2.12, a current ratio of 2.70 and a debt-to-equity ratio of 0.29. The stock has a market cap of $15,130.00, a price-to-earnings ratio of -94.23 and a beta of 1.73. BioMarin Pharmaceutical has a 1-year low of $77.04 and a 1-year high of $100.51.
Institutional investors and hedge funds have recently modified their holdings of the business. First Manhattan Co. boosted its stake in BioMarin Pharmaceutical by 104.2% in the fourth quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock worth $109,000 after buying an additional 625 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth approximately $112,000. Commerce Bank purchased a new stake in BioMarin Pharmaceutical in the third quarter worth approximately $209,000. IFG Advisory LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth approximately $212,000. Finally, Teacher Retirement System of Texas purchased a new stake in BioMarin Pharmaceutical in the third quarter worth approximately $220,000.
In other news, Director Elaine J. Heron sold 800 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $88.90, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jean Jacques Bienaime sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $89.75, for a total value of $1,795,000.00. The disclosure for this sale can be found here. Insiders have sold 104,627 shares of company stock valued at $9,314,362 in the last three months. 1.85% of the stock is owned by insiders.
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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).
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