Weekly Analysts’ Ratings Updates for BioMarin Pharmaceutical (BMRN)

BioMarin Pharmaceutical (NASDAQ: BMRN) has recently received a number of price target changes and ratings updates:

  • 1/8/2019 – BioMarin Pharmaceutical was given a new $92.00 price target on by analysts at Oppenheimer Holdings Inc.. They now have a “hold” rating on the stock.
  • 1/7/2019 – BioMarin Pharmaceutical had its “buy” rating reaffirmed by analysts at Cowen Inc.
  • 1/7/2019 – BioMarin Pharmaceutical had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $126.00 price target on the stock. They wrote, “The Disclosure Section may be found on pages 4 – 5.We think BioMarin is entering a new chapter in the company’s history with many major readouts from late stage programs, e.g. Valrox and vosoritide, on the horizon. Overweight rating and $126 price target are based on a probability adjusted DCF analysis. We apply an 8% discount rate and a 2% terminal growth rate, in line with peers.””
  • 1/2/2019 – BioMarin Pharmaceutical was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating. They now have a $83.16 price target on the stock.
  • 12/31/2018 – BioMarin Pharmaceutical was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BioMarin’s key orphan disease drugs – Vimizim and Kuvan – continue to do well, backed by strong underlying patient demand trends. The latest FDA approval of Palynziq was the second product approval for BioMarin in less than two years, the first being Brineura in mid-2017. Its impressive rare disease pipeline is also progressing well. Growing pipeline focus toward gene therapy agents is encouraging. However, BioMarin has suffered a few regulatory setbacks related to its pipeline candidates in the past. Further, development setbacks can have a negative impact on the stock. Also, Naglazyme and Vimzin revenues vary on a quarterly basis primarily due to infrequent ordering patterns from some countries, mainly Brazil. The stock has outperformed the industry so far this year.”
  • 12/17/2018 – BioMarin Pharmaceutical is now covered by analysts at Guggenheim. They set a “neutral” rating on the stock.
  • 12/14/2018 – BioMarin Pharmaceutical is now covered by analysts at Wolfe Research. They set an “outperform” rating on the stock.
  • 12/13/2018 – BioMarin Pharmaceutical is now covered by analysts at Oppenheimer Holdings Inc.. They set a “hold” rating and a $92.00 price target on the stock.
  • 11/28/2018 – BioMarin Pharmaceutical was given a new $126.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock.

BMRN stock opened at $94.46 on Monday. The company has a quick ratio of 2.26, a current ratio of 2.87 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $16.18 billion, a P/E ratio of -140.99 and a beta of 1.57. BioMarin Pharmaceutical Inc. has a 1-year low of $75.81 and a 1-year high of $106.74.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.15. The firm had revenue of $391.71 million during the quarter, compared to the consensus estimate of $369.43 million. BioMarin Pharmaceutical had a negative return on equity of 2.98% and a negative net margin of 8.35%. On average, sell-side analysts anticipate that BioMarin Pharmaceutical Inc. will post -0.13 EPS for the current fiscal year.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 2,000 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, December 12th. The stock was sold at an average price of $93.12, for a total value of $186,240.00. Following the transaction, the chief executive officer now owns 290,290 shares in the company, valued at $27,031,804.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey Robert Ajer sold 9,000 shares of BioMarin Pharmaceutical stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $92.15, for a total value of $829,350.00. Following the completion of the transaction, the executive vice president now owns 58,135 shares in the company, valued at approximately $5,357,140.25. The disclosure for this sale can be found here. Insiders sold 35,150 shares of company stock valued at $3,109,140 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd grew its stake in shares of BioMarin Pharmaceutical by 3,524.1% during the third quarter. Point72 Hong Kong Ltd now owns 1,051 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 1,022 shares during the last quarter. Huntington National Bank purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $105,000. BDO Wealth Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $127,000. NuWave Investment Management LLC grew its stake in shares of BioMarin Pharmaceutical by 42,975.0% during the third quarter. NuWave Investment Management LLC now owns 1,723 shares of the biotechnology company’s stock worth $167,000 after acquiring an additional 1,719 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $204,000.

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.

Featured Story: Hedge Funds – Risk or Reward?

Receive News & Ratings for BioMarin Pharmaceutical Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply