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

BidaskClub downgraded shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) from a hold rating to a sell rating in a report released on Monday morning.

Other analysts also recently issued research reports about the stock. Cowen and Company reiterated a buy rating and issued a $150.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, April 24th. Vetr downgraded shares of BioMarin Pharmaceutical from a strong-buy rating to a buy rating and set a $95.10 target price for the company. in a report on Monday, April 10th. J P Morgan Chase & Co reiterated a buy rating on shares of BioMarin Pharmaceutical in a report on Monday, May 1st. Credit Suisse Group reiterated a buy rating and issued a $116.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, April 28th. Finally, Deutsche Bank AG set a $105.00 target price on shares of BioMarin Pharmaceutical and gave the company a buy rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $110.05.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 89.09 on Monday. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $102.49. The stock’s 50 day moving average is $90.66 and its 200 day moving average is $90.02. The firm’s market cap is $15.55 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Thursday, May 4th. The biotechnology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.33. BioMarin Pharmaceutical had a negative net margin of 48.43% and a negative return on equity of 22.71%. The firm had revenue of $303.70 million for the quarter, compared to analyst estimates of $292.58 million. During the same period last year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical will post ($0.84) earnings per share for the current year.

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In other BioMarin Pharmaceutical news, EVP Jeffrey Robert Ajer sold 302 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $96.74, for a total transaction of $29,215.48. Following the transaction, the executive vice president now directly owns 51,834 shares of the company’s stock, valued at $5,014,421.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP George Eric Davis sold 2,500 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $100.34, for a total transaction of $250,850.00. Following the transaction, the executive vice president now directly owns 85,251 shares in the company, valued at $8,554,085.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,024 shares of company stock valued at $7,587,926. 2.50% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BMRN. Primecap Management Co. CA increased its position in shares of BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock valued at $764,763,000 after buying an additional 826,320 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of BioMarin Pharmaceutical by 6.7% in the first quarter. Jennison Associates LLC now owns 9,871,207 shares of the biotechnology company’s stock worth $866,495,000 after buying an additional 617,001 shares during the period. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 3.7% in the first quarter. Vanguard Group Inc. now owns 13,702,404 shares of the biotechnology company’s stock worth $1,202,796,000 after buying an additional 495,118 shares during the period. Manning & Napier Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 25.2% in the second quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after buying an additional 426,016 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the first quarter worth approximately $37,416,000. 96.63% of the stock is currently owned by institutional investors.

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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