BioMarin Pharmaceutical Inc. (BMRN) Stock Rating Reaffirmed by Goldman Sachs Group, Inc. (The)

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reiterated by investment analysts at Goldman Sachs Group, Inc. (The) in a research report issued to clients and investors on Friday. They currently have a $129.00 price target on the biotechnology company’s stock. Goldman Sachs Group, Inc. (The)’s price target indicates a potential upside of 36.06% from the stock’s previous close.

A number of other research firms also recently weighed in on BMRN. Sanford C. Bernstein started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a “market perform” rating and a $89.00 price target on the stock. Evercore ISI started coverage on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $100.00 price target on the stock. Royal Bank Of Canada started coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $93.00 price target on the stock. SunTrust Banks, Inc. restated a “buy” rating and issued a $115.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Finally, Barclays PLC restated an “equal weight” rating and issued a $100.00 price target (down from $105.00) on shares of BioMarin Pharmaceutical in a research note on Saturday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. BioMarin Pharmaceutical presently has an average rating of “Buy” and an average price target of $110.21.

BioMarin Pharmaceutical (BMRN) opened at 94.81 on Friday. The company’s market capitalization is $16.62 billion. The firm has a 50 day moving average of $89.79 and a 200-day moving average of $89.72. BioMarin Pharmaceutical has a 52 week low of $78.42 and a 52 week high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company had revenue of $317.50 million for the quarter, compared to the consensus estimate of $311.41 million. During the same period last year, the company posted ($2.61) EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current year.

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In other news, EVP Robert Baffi sold 18,415 shares of BioMarin Pharmaceutical stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total value of $1,702,098.45. Following the completion of the sale, the executive vice president now owns 129,083 shares in the company, valued at approximately $11,931,141.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Robert Ajer sold 3,521 shares of BioMarin Pharmaceutical stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $95.00, for a total transaction of $334,495.00. Following the completion of the sale, the executive vice president now owns 49,299 shares of the company’s stock, valued at approximately $4,683,405. The disclosure for this sale can be found here. Insiders sold a total of 40,686 shares of company stock valued at $3,736,318 in the last quarter. 1.85% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in BMRN. Jennison Associates LLC increased its stake in shares of BioMarin Pharmaceutical by 33.8% in the 2nd quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock valued at $1,202,709,000 after acquiring an additional 3,348,168 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of BioMarin Pharmaceutical by 63.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock valued at $204,437,000 after acquiring an additional 875,686 shares in the last quarter. USS Investment Management Ltd increased its stake in shares of BioMarin Pharmaceutical by 214.7% in the 2nd quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock valued at $98,988,000 after acquiring an additional 743,599 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of BioMarin Pharmaceutical by 4.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock valued at $1,302,816,000 after acquiring an additional 642,623 shares in the last quarter. Finally, Manning & Napier Advisors LLC increased its stake in shares of BioMarin Pharmaceutical by 25.2% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock valued at $192,399,000 after acquiring an additional 426,016 shares in the last quarter. Institutional investors own 97.47% of the company’s stock.

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).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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