BioMarin Pharmaceutical (BMRN) Given a $127.00 Price Target by Wedbush Analysts

BioMarin Pharmaceutical (NASDAQ:BMRN) has been assigned a $127.00 price objective by stock analysts at Wedbush in a report released on Monday. The firm currently has a “buy” rating on the biotechnology company’s stock. Wedbush’s target price would suggest a potential upside of 37.88% from the company’s current price.

Several other equities analysts have also weighed in on BMRN. Credit Suisse Group raised their target price on BioMarin Pharmaceutical from $120.00 to $122.00 and gave the company an “outperform” rating in a report on Monday, July 9th. ValuEngine upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. BidaskClub upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Canaccord Genuity raised their target price on BioMarin Pharmaceutical from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Stifel Nicolaus raised their price target on BioMarin Pharmaceutical from $102.00 to $109.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $117.00.

NASDAQ BMRN opened at $92.11 on Monday. BioMarin Pharmaceutical has a fifty-two week low of $75.81 and a fifty-two week high of $106.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.24 and a current ratio of 2.83. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of -137.27 and a beta of 1.61.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, October 25th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.15. BioMarin Pharmaceutical had a negative return on equity of 3.00% and a negative net margin of 8.35%. The company had revenue of $391.71 million for the quarter, compared to analyst estimates of $369.43 million. Analysts anticipate that BioMarin Pharmaceutical will post -0.24 earnings per share for the current fiscal year.

In other news, Director Alan Lewis sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $100.09, for a total value of $420,378.00. Following the sale, the director now directly owns 21,160 shares of the company’s stock, valued at $2,117,904.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian Mueller sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $104.50, for a total value of $261,250.00. Following the completion of the sale, the senior vice president now directly owns 14,093 shares in the company, valued at $1,472,718.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,523 shares of company stock worth $7,345,343. 1.90% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC boosted its holdings in BioMarin Pharmaceutical by 14.4% during the third quarter. Frontier Capital Management Co. LLC now owns 1,384,495 shares of the biotechnology company’s stock valued at $134,254,000 after purchasing an additional 174,023 shares in the last quarter. CMH Wealth Management LLC boosted its holdings in BioMarin Pharmaceutical by 13.6% during the third quarter. CMH Wealth Management LLC now owns 13,223 shares of the biotechnology company’s stock valued at $1,304,000 after purchasing an additional 1,585 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in BioMarin Pharmaceutical by 49.2% during the third quarter. NN Investment Partners Holdings N.V. now owns 25,327 shares of the biotechnology company’s stock valued at $2,456,000 after purchasing an additional 8,352 shares in the last quarter. Rice Hall James & Associates LLC boosted its holdings in BioMarin Pharmaceutical by 2.3% during the third quarter. Rice Hall James & Associates LLC now owns 52,471 shares of the biotechnology company’s stock valued at $5,088,000 after purchasing an additional 1,197 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in BioMarin Pharmaceutical by 74.4% during the third quarter. First Trust Advisors LP now owns 1,227,500 shares of the biotechnology company’s stock valued at $119,031,000 after purchasing an additional 523,649 shares in the last quarter.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical, Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme that is used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Firdapse for Lambert Eaton Myasthenic Syndrome.

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Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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