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

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Thursday.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus raised their price objective on shares of BioMarin Pharmaceutical from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Canaccord Genuity raised their price objective on shares of BioMarin Pharmaceutical from $105.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, July 31st. ValuEngine upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. JPMorgan Chase & Co. restated a “buy” rating and issued a $135.00 price objective on shares of BioMarin Pharmaceutical in a research report on Sunday, August 5th. Finally, Citigroup raised their price objective on shares of BioMarin Pharmaceutical from $108.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $117.00.

Shares of BMRN traded down $0.52 during trading hours on Thursday, hitting $98.54. The company’s stock had a trading volume of 798,800 shares, compared to its average volume of 1,293,465. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of -147.07 and a beta of 1.65. The company has a quick ratio of 2.26, a current ratio of 2.87 and a debt-to-equity ratio of 0.28. BioMarin Pharmaceutical has a 52-week low of $75.81 and a 52-week high of $106.74.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative net margin of 8.35% and a negative return on equity of 2.98%. The firm had revenue of $391.71 million during the quarter, compared to the consensus estimate of $369.43 million. On average, sell-side analysts expect that BioMarin Pharmaceutical will post -0.14 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, insider Henry J. Fuchs sold 12,500 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, August 24th. The shares were sold at an average price of $99.00, for a total transaction of $1,237,500.00. Following the completion of the sale, the insider now directly owns 142,667 shares in the company, valued at $14,124,033. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan Lewis sold 4,200 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $100.09, for a total transaction of $420,378.00. Following the sale, the director now owns 21,160 shares of the company’s stock, valued at $2,117,904.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,850 shares of company stock valued at $6,911,128. 1.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in BMRN. Senator Investment Group LP bought a new stake in BioMarin Pharmaceutical during the second quarter valued at approximately $94,200,000. First Trust Advisors LP lifted its position in BioMarin Pharmaceutical by 74.4% during the third quarter. First Trust Advisors LP now owns 1,227,500 shares of the biotechnology company’s stock valued at $119,031,000 after purchasing an additional 523,649 shares during the last quarter. Frontier Capital Management Co. LLC lifted its position in BioMarin Pharmaceutical by 42.8% during the second quarter. Frontier Capital Management Co. LLC now owns 1,210,472 shares of the biotechnology company’s stock valued at $114,026,000 after purchasing an additional 362,531 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in BioMarin Pharmaceutical by 68.4% during the second quarter. Canada Pension Plan Investment Board now owns 427,999 shares of the biotechnology company’s stock valued at $40,318,000 after purchasing an additional 173,850 shares during the last quarter. Finally, Waddell & Reed Financial Inc. lifted its position in BioMarin Pharmaceutical by 5.0% during the second quarter. Waddell & Reed Financial Inc. now owns 3,337,346 shares of the biotechnology company’s stock valued at $314,378,000 after purchasing an additional 160,247 shares during the last quarter.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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