BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) – Stock analysts at Gabelli increased their FY2020 earnings per share estimates for shares of BioMarin Pharmaceutical in a research report issued to clients and investors on Friday. Gabelli analyst J. He now forecasts that the biotechnology company will post earnings of $2.70 per share for the year, up from their prior estimate of $2.55. Gabelli also issued estimates for BioMarin Pharmaceutical’s FY2021 earnings at $3.60 EPS and FY2022 earnings at $4.25 EPS.
A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. restated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Sunday. Credit Suisse Group reiterated a “buy” rating and issued a $113.00 price objective on shares of BioMarin Pharmaceutical in a research report on Sunday. Morgan Stanley decreased their price objective on BioMarin Pharmaceutical from $115.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus decreased their price objective on BioMarin Pharmaceutical from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Leerink Swann decreased their price objective on BioMarin Pharmaceutical from $142.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $111.28.
In other news, CEO Jean Jacques Bienaime sold 10,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $84.63, for a total value of $846,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP George Eric Davis sold 30,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $90.66, for a total value of $2,719,800.00. Following the completion of the transaction, the executive vice president now directly owns 112,942 shares in the company, valued at approximately $10,239,321.72. The disclosure for this sale can be found here. In the last three months, insiders sold 100,750 shares of company stock worth $9,005,888. 1.85% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB raised its stake in BioMarin Pharmaceutical by 10.5% during the 4th quarter. Xact Kapitalforvaltning AB now owns 23,186 shares of the biotechnology company’s stock worth $2,067,000 after buying an additional 2,212 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in BioMarin Pharmaceutical by 6.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,584 shares of the biotechnology company’s stock worth $10,485,000 after buying an additional 7,517 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in BioMarin Pharmaceutical by 64.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,410 shares of the biotechnology company’s stock worth $750,000 after buying an additional 3,300 shares during the period. Slow Capital Inc. acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $615,000. Finally, Endurant Capital Management LP acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $901,000. 98.77% of the stock is currently owned by institutional investors and hedge funds.
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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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