BioMarin Pharmaceutical (NASDAQ:BMRN) Trading Up 6.6%

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares were up 6.6% during mid-day trading on Friday . The stock traded as high as $76.68 and last traded at $76.50, approximately 1,811,927 shares changed hands during mid-day trading. An increase of 56% from the average daily volume of 1,163,096 shares. The stock had previously closed at $71.73.

Several equities analysts have issued reports on BMRN shares. TheStreet downgraded BioMarin Pharmaceutical from a “c-” rating to a “d+” rating in a research report on Tuesday, May 7th. BidaskClub downgraded BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research report on Friday, July 26th. Robert W. Baird set a $120.00 target price on BioMarin Pharmaceutical and gave the stock a “buy” rating in a research report on Friday, April 26th. Cantor Fitzgerald restated a “buy” rating and set a $131.00 target price on shares of BioMarin Pharmaceutical in a research report on Friday, April 26th. Finally, Citigroup restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $115.60.

The company has a market cap of $12.87 billion, a P/E ratio of -231.82 and a beta of 1.35. The company has a quick ratio of 2.79, a current ratio of 4.11 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $80.43 and a two-hundred day moving average price of $86.40.



BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.16). The firm had revenue of $388.00 million for the quarter, compared to the consensus estimate of $415.03 million. BioMarin Pharmaceutical had a negative return on equity of 3.12% and a negative net margin of 7.19%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) EPS. As a group, sell-side analysts expect that BioMarin Pharmaceutical Inc. will post -0.03 EPS for the current fiscal year.

In related news, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction on Monday, June 17th. The stock was sold at an average price of $81.08, for a total transaction of $304,050.00. Following the completion of the sale, the director now directly owns 27,340 shares of the company’s stock, valued at $2,216,727.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. BB&T Securities LLC grew its stake in shares of BioMarin Pharmaceutical by 4.0% during the second quarter. BB&T Securities LLC now owns 3,447 shares of the biotechnology company’s stock worth $295,000 after purchasing an additional 132 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of BioMarin Pharmaceutical by 0.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 27,142 shares of the biotechnology company’s stock worth $2,411,000 after purchasing an additional 144 shares during the period. Berman Capital Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 56.8% during the first quarter. Berman Capital Advisors LLC now owns 417 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 151 shares during the period. Avestar Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 36.9% during the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 202 shares during the period. Finally, First Mercantile Trust Co. grew its stake in shares of BioMarin Pharmaceutical by 2.6% during the second quarter. First Mercantile Trust Co. now owns 8,116 shares of the biotechnology company’s stock worth $695,000 after purchasing an additional 206 shares during the period. 96.86% of the stock is owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical (NASDAQ:BMRN)

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 to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; 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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