BioMarin Pharmaceutical (BMRN) Sets New 12-Month High and Low at $76.90

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) hit a new 52-week high and low during trading on Monday . The company traded as low as $76.90 and last traded at $77.02, with a volume of 762200 shares. The stock had previously closed at $81.07.

A number of brokerages have commented on BMRN. BMO Capital Markets restated an “outperform” rating and set a $125.00 price objective (up from $119.00) on shares of BioMarin Pharmaceutical in a research report on Friday, February 23rd. Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Friday, December 22nd. SunTrust Banks lifted their price target on BioMarin Pharmaceutical to $130.00 and gave the company a “buy” rating in a report on Monday, December 11th. Credit Suisse Group reiterated a “buy” rating and set a $116.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Zacks Investment Research lowered BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and a consensus target price of $112.34.

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The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.12. The firm has a market capitalization of $14,274.18, a price-to-earnings ratio of -115.36 and a beta of 1.68.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, February 22nd. The biotechnology company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). BioMarin Pharmaceutical had a negative return on equity of 3.18% and a negative net margin of 8.91%. The company had revenue of $358.31 million during the quarter, compared to analyst estimates of $346.24 million. equities research analysts forecast that BioMarin Pharmaceutical Inc. will post -0.71 EPS for the current year.

In related news, CEO Jean Jacques Bienaime sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $90.32, for a total value of $903,200.00. Following the completion of the sale, the chief executive officer now directly owns 235,894 shares in the company, valued at approximately $21,305,946.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Robert Ajer sold 1,537 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, March 29th. The stock was sold at an average price of $79.69, for a total value of $122,483.53. Following the completion of the transaction, the executive vice president now directly owns 55,033 shares in the company, valued at $4,385,579.77. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,900 shares of company stock valued at $8,904,827. Corporate insiders own 1.85% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. First Manhattan Co. increased its position in BioMarin Pharmaceutical by 104.2% in the 4th quarter. First Manhattan Co. now owns 1,225 shares of the biotechnology company’s stock worth $109,000 after buying an additional 625 shares during the period. Financial Gravity Companies Inc. bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $112,000. IFG Advisory LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $212,000. First Republic Investment Management Inc. bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth approximately $220,000. Finally, Redmile Group LLC bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $223,000.

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BioMarin Pharmaceutical Company Profile

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).

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