Will BioMarin Pharmaceutical Inc. Go Down Anytime Soon? Option Trader Doubt That

 Will BioMarin Pharmaceutical Inc. Go Down Anytime Soon? Option Trader Doubt That

In today’s session BioMarin Pharmaceutical Inc. (BMRN) registered an unusually high (321) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious BMRN increase. With 321 contracts traded and 7944 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: BMRN170120C00100000 closed last at: $3.3 or 13.2% down. About 222,535 shares traded hands. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has risen 2.42% since March 15, 2016 and is uptrending. It has underperformed by 3.06% the S&P500.

Analysts await BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report earnings on November, 3. They expect $-0.40 EPS, up 33.33% or $0.20 from last year’s $-0.6 per share. After $-0.11 actual EPS reported by BioMarin Pharmaceutical Inc. for the previous quarter, Wall Street now forecasts 263.64% negative EPS growth.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Out of 15 analysts covering BioMarin Pharmaceutical (NASDAQ:BMRN), 13 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 87% are positive. $175 is the highest target while $99 is the lowest. The $132.87 average target is 55.53% above today’s ($85.43) stock price. BioMarin Pharmaceutical has been the topic of 33 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Stifel Nicolaus upgraded the stock to “Buy” rating in Tuesday, February 16 report. As per Tuesday, August 4, the company rating was maintained by SunTrust. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has “Outperform” rating given on Thursday, April 7 by BMO Capital Markets. Piper Jaffray maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rating on Friday, August 5. Piper Jaffray has “Overweight” rating and $120 price target. The firm has “Overweight” rating given on Friday, August 5 by Barclays Capital. RBC Capital Markets maintained the shares of BMRN in a report on Friday, February 26 with “Outperform” rating. The rating was maintained by Oppenheimer on Wednesday, November 25 with “Perform”. Cowen & Co maintained the stock with “Buy” rating in Tuesday, August 25 report. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) earned “Hold” rating by Wedbush on Wednesday, August 5. Raymond James initiated the shares of BMRN in a report on Tuesday, September 1 with “Outperform” rating.

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.”

Insitutional Activity: The institutional sentiment increased to 1.28 in Q2 2016. Its up 0.10, from 1.18 in 2016Q1. The ratio increased, 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.
Weiss Multi holds 0.09% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 14,580 shares. First Personal Financial Services accumulated 0.01% or 461 shares. Shelton Capital Management accumulated 0.06% or 8,949 shares. Deutsche National Bank Ag, a Germany-based fund reported 1.38 million shares. Blackrock Fund last reported 3.74M shares in the company. Ww Asset Inc has invested 0.01% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Glg Lc last reported 19,741 shares in the company. Moreover, Westpac Bk has 0% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 8,927 shares. Us Bancorp De accumulated 0% or 6,205 shares. Argent Trust has 8,793 shares for 0.3% of their US portfolio. Enterprise Fin Svcs has invested 0.01% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Janus Cap Management Limited Liability Company has 0% invested in the company for 23,800 shares. Ray Gerald L And Assoc Ltd holds 0.12% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 9,925 shares. The Quebec – Canada-based Fiera Cap Corp has invested 0% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Kayne Anderson Rudnick Inv Mngmt Ltd Liability Com holds 177,139 shares or 0.21% of its portfolio.

Insider Transactions: Since April 29, 2016, the stock had 0 insider buys, and 22 insider sales for $53.41 million net activity. Shares for $397,320 were sold by SPIEGELMAN DANIEL K. 1,100 shares with value of $104,927 were sold by LAWLIS V BRYAN on Wednesday, July 27. Another trade for 18,467 shares valued at $1.77 million was made by Ajer Jeffrey Robert on Tuesday, September 27. $4.01 million worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was sold by BIENAIME JEAN JACQUES. Mueller Brian sold 287 shares worth $28,700. $216,700 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was sold by Davis George Eric. BAFFI ROBERT sold $435,249 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Wednesday, May 18.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for various diseases and medical conditions. The company has a market cap of $14.66 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).

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.

Another recent and important BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) news was published by Forbes.com which published an article titled: “BioMarin Pharmaceutical Enters Oversold Territory (BMRN)” on October 14, 2016.

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