BioMarin Pharmaceutical (BMRN) Price Target Raised to $130.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective upped by SunTrust Banks to $130.00 in a report issued on Monday morning, The Fly reports. SunTrust Banks currently has a buy rating on the biotechnology company’s stock.

A number of other brokerages have also recently issued reports on BMRN. Evercore ISI assumed coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, August 16th. They issued an outperform rating and a $100.00 target price on the stock. BidaskClub cut shares of BioMarin Pharmaceutical from a sell rating to a strong sell rating in a report on Thursday, August 17th. Jefferies Group set a $116.00 target price on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a report on Friday, August 25th. Citigroup assumed coverage on shares of BioMarin Pharmaceutical in a report on Thursday, August 31st. They issued a buy rating and a $98.00 target price on the stock. Finally, Piper Jaffray Companies initiated coverage on shares of BioMarin Pharmaceutical in a report on Thursday, September 14th. They issued an overweight rating and a $113.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $112.35.

BioMarin Pharmaceutical (NASDAQ:BMRN) opened at $88.66 on Monday. BioMarin Pharmaceutical has a 52 week low of $80.10 and a 52 week high of $100.51. The company has a quick ratio of 3.81, a current ratio of 4.91 and a debt-to-equity ratio of 0.41.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The business had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. BioMarin Pharmaceutical had a negative return on equity of 4.60% and a negative net margin of 12.45%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.02 earnings per share. equities analysts predict that BioMarin Pharmaceutical will post -0.65 EPS for the current fiscal year.

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 1,200 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total transaction of $102,768.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $91.26, for a total transaction of $342,225.00. Following the transaction, the director now owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,886 shares of company stock worth $3,839,086. 1.85% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Americafirst Capital Management LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $702,000. IFM Investors Pty Ltd purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $448,000. Piedmont Investment Advisors LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $561,000. California Public Employees Retirement System grew its position in BioMarin Pharmaceutical by 1.6% during the 3rd quarter. California Public Employees Retirement System now owns 332,500 shares of the biotechnology company’s stock worth $30,946,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $388,000. Hedge funds and other institutional investors own 99.25% of the company’s stock.

TRADEMARK VIOLATION WARNING: “BioMarin Pharmaceutical (BMRN) Price Target Raised to $130.00” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.dispatchtribunal.com/2017/12/14/biomarin-pharmaceutical-bmrn-price-target-raised-to-130-00.html.

About BioMarin Pharmaceutical

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).

The Fly

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply