BioMarin Pharmaceutical Earns “Neutral” Rating from Wedbush (BMRN)

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BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a report released on Friday. They currently have a $130.00 price objective on the stock. Wedbush’s price objective would suggest a potential downside of 3.59% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Nomura set a $163.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Analysts at William Blair raised their price target on shares of BioMarin Pharmaceutical from $126.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, June 19th. Analysts at Robert W. Baird downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $125.00 to $133.00 in a research note on Friday, June 19th. They noted that the move was a valuation call. Analysts at Cowen and Company reiterated an “outperform” rating and set a $150.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, June 18th. Finally, analysts at Canaccord Genuity raised their price target on shares of BioMarin Pharmaceutical from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $140.28.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.38% on Friday, hitting $134.84. The stock had a trading volume of 1,227,451 shares. BioMarin Pharmaceutical has a 1-year low of $55.36 and a 1-year high of $141.51. The stock’s 50-day moving average is $126. and its 200-day moving average is $111.. The company’s market cap is $21.62 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.43) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.53) by $0.10. The company had revenue of $201.30 million for the quarter. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was up 32.9% on a year-over-year basis. On average, analysts predict that BioMarin Pharmaceutical will post $-2.14 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 1,649 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $122.30, for a total transaction of $201,672.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio is comprised of four approved products and multiple investigational product candidates. Approved products include Naglazyme (NASDAQ:BMRN), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). It is conducting clinical trials on several product candidates for the treatment of various diseases. The Company is conducting preclinical development of several other enzyme product candidates for genetic and other metabolic diseases, including BMN-190 for the treatment of late infantile neuronal ceroid lipofuscinosis (LINCL), a form of Batten disease.

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