Cantor Fitzgerald reissued their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $90.00 price target on the biotechnology company’s stock.
BMRN has been the subject of a number of other research reports. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Citigroup cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Sanford C. Bernstein cut their price target on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, UBS Group raised their price objective on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.
Check Out Our Latest Research Report on BMRN
BioMarin Pharmaceutical Price Performance
BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, equities research analysts predict that BioMarin Pharmaceutical will post 2.49 EPS for the current fiscal year.
Insider Buying and Selling
In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now owns 68,909 shares in the company, valued at $4,573,490.33. This represents a 7.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. boosted its position in BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after buying an additional 173 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after buying an additional 180 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares during the period. Voisard Asset Management Group Inc. grew its position in shares of BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.
About BioMarin Pharmaceutical
BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.
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