Rating Reporting: BioMarin Pharmaceutical Inc (NASDAQ:BMRN) Was Downgraded by Barclays to “Equal-Weight”

November 29, 2016 - By whatsonthorold

Rating Reporting:  BioMarin Pharmaceutical Inc (NASDAQ:BMRN) Was Downgraded by Barclays to

BioMarin Pharmaceutical Inc (NASDAQ:BMRN) Downgrade

In a an analyst report revealed to clients on Tuesday, 29 November, stock analysts at Barclays’s equity division lowered BioMarin Pharmaceutical Inc (NASDAQ:BMRN)‘s stock from a “Overweight” to “Equal-Weight”. They have a target price per share of $105.00 on BMRN or 20.44% more upside.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Out of 16 analysts covering BioMarin Pharmaceutical (NASDAQ:BMRN), 12 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 75% are positive. $175 is the highest target while $99 is the lowest. The $129.27 average target is 48.28% above today’s ($87.18) stock price. BioMarin Pharmaceutical has been the topic of 36 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Buy” rating in Tuesday, August 25 report. The rating was initiated by Oppenheimer on Wednesday, November 18 with “Perform”. Deutsche Bank maintained the shares of BMRN in a report on Wednesday, August 5 with “Buy” rating. The company was maintained on Tuesday, August 25 by Wedbush. The rating was maintained by Leerink Swann with “Outperform” on Tuesday, February 23. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) earned “Buy” rating by SunTrust on Tuesday, August 4. The company was maintained on Wednesday, August 5 by William Blair. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has “Outperform” rating given on Friday, October 2 by Raymond James. The rating was initiated by BMO Capital Markets on Thursday, April 7 with “Outperform”. On Wednesday, November 18 the stock rating was initiated by Goldman Sachs with “Buy”.

About 649,753 shares traded hands. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has declined 0.39% since April 26, 2016 and is downtrending. It has underperformed by 5.65% the S&P500.

Analysts await BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report earnings on February, 23. They expect $-0.40 earnings per share, up 31.03% or $0.18 from last year’s $-0.58 per share. After $-0.13 actual earnings per share reported by BioMarin Pharmaceutical Inc. for the previous quarter, Wall Street now forecasts 207.69% negative EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.66 in Q2 2016. Its up 0.38, from 1.28 in 2016Q1. The ratio is positive, as 34 funds sold all BioMarin Pharmaceutical Inc. shares owned while 104 reduced positions. 37 funds bought stakes while 140 increased positions. They now own 153.99 million shares or 5.12% less from 162.30 million shares in 2016Q1.

Clarivest Asset Mngmt Ltd Liability, a California-based fund reported 10 shares. Metropolitan Life Insurance accumulated 12,214 shares or 0.01% of the stock. Utah Retirement Sys last reported 29,681 shares in the company. Neuberger Berman Lc owns 300,659 shares or 0.03% of their US portfolio. Artal Grp Sa holds 0.56% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 350,000 shares. Cibc Asset Mngmt Inc, a Ontario – Canada-based fund reported 11,667 shares. Mutual Of America Cap Mngmt Ltd Limited Liability Company reported 1,854 shares or 0% of all its holdings. Amer Century Companies holds 0.06% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 689,122 shares. Manning Napier Advsrs holds 0.07% or 139,920 shares in its portfolio. First Personal Finance Ser has 0.01% invested in the company for 461 shares. Principal Financial Group Inc last reported 0% of its portfolio in the stock. Next Gru holds 1,980 shares or 0.05% of its portfolio. Baker Bros Advisors Limited Partnership has invested 3.92% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Blackrock Grp Ltd accumulated 1.02M shares or 0.04% of the stock. Loring Wolcott Coolidge Fiduciary Advsr Llp Ma has invested 0% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN).

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 22 insider sales for $84.09 million net activity. 53,125 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares with value of $4.89 million were sold by BIENAIME JEAN JACQUES. Davis George Eric had sold 2,167 shares worth $216,700. 1,100 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares with value of $104,927 were sold by LAWLIS V BRYAN. SPIEGELMAN DANIEL K had sold 20,841 shares worth $1.87M on Tuesday, May 31. $28,700 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was sold by Mueller Brian on Monday, August 1. On Tuesday, September 27 Ajer Jeffrey Robert sold $1.77M worth of the stock or 18,467 shares. $1.43M worth of shares were sold by FUCHS HENRY J on Friday, August 26.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for various diseases and medical conditions. The company has a market cap of $14.89 billion. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. It currently has negative earnings. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate).

According to Zacks Investment Research, “BioMarin Pharmaceutical Inc. is a developer of carbohydrate enzyme therapies for debilitating, life-threatening, chronic genetic disorders and other diseases and conditions. The company completed a six-month evaluation of patients being treated with BioMarin’s lead product, BM101, for the treatment of mucopolysaccharidosis-I, or MPS-I. Patients were treated with BM101 as part of a pivotal clinical trial completed to determine the safety and efficacy of the drug in humans.”

BMRN Company Profile

BioMarin Pharmaceutical Inc. (BioMarin), incorporated on October 25, 1996, develops and commercializes pharmaceuticals for various diseases and medical conditions. The Company’s product portfolio consists of approximately five approved products, and multiple clinical and pre-clinical product candidates. The Company’s approved products include Vimizim (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States, the European Union and in other countries. Naglazyme received marketing approval in the United States, the European Union and in other countries. Kuvan was granted marketing approval in the United States and the European Union. Aldurazyme was approved for marketing in the United States, the European Union and in other countries. Firdapse received marketing approval in the European Union.

More news for BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) were recently published by: Nasdaq.com, which released: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $––.6 …” on November 11, 2016. Nasdaq.com‘s article titled: “Biomarin Pharmaceutical Inc (BMRN) CEO Jean Jacques Bienaime Sold $9.8 million …” and published on November 01, 2016 is yet another important article.

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