BioMarin Pharmaceutical is Initiated by Morgan Stanley to “Overweight”

BioMarin Pharmaceutical (BMRN) was Initiated by Morgan Stanley to “Overweight” and the brokerage firm has set the Price Target at $110. Morgan Stanley advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, BioMarin Pharmaceutical reported $0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $-0.08. The company had revenue of $279.90 million for the quarter, compared to analysts expectations of $289.36 million. The company’s revenue was up 34.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.60 EPS.

Several company insiders have filed Insider transactions , on Jan 27, 2017, Jean Jacques Bienaime (Chief Executive Officer) sold 10,000 shares at $84.22 per share price. According to the SEC, on Jan 10, 2017, Daniel K Spiegelman (EVP, Chief Financial Officer) sold 5,000 shares at $90.00 per share price. On Nov 29, 2016, Henry J Fuchs (President, Worldwide R&D) sold 15,000 shares at $87.40 per share price, according to the Form-4 filing with the securities and exchange commission.

BioMarin Pharmaceutical closed down -1.02 points or -1.12% at $90.13 with 6,17,451 shares getting traded on Friday. Post opening the session at $91.23, the shares hit an intraday low of $89.37 and an intraday high of $91.27 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are 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 subsequently in several other countries. Naglazyme received marketing approval in the United States the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States the European Union. Aldurazyme which was developed in collaboration with Genzyme Corporation (Genzyme) was approved for marketing in the United States the European Union and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

BioMarin Pharmaceutical

Leave a Reply

BioMarin Pharmaceutical - Is it time to Sell?

Top Brokerage Firms are advising their investors on BioMarin Pharmaceutical. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.