RBC Capital Reiterates “Buy” Rating for BioMarin Pharmaceutical (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “buy” rating reaffirmed by analysts at RBC Capital in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. They currently have a $77.00 price objective on the stock. RBC Capital’s target price indicates a potential downside of 0.63% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus downgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $70.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Merrill Lynch reiterated a “buy” rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Monday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Friday, September 6th. They now have a $74.00 price target on the stock.
Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $71.37.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 2.02% during mid-day trading on Wednesday, hitting $77.492. The stock had a trading volume of 3,191,145 shares. BioMarin Pharmaceutical has a one year low of $36.28 and a one year high of $78.83. The stock has a 50-day moving average of $67.2 and a 200-day moving average of $63.36. The company’s market cap is $10.857 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, July 25th. The company reported ($0.16) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.29) by $0.13. The company had revenue of $136.80 million for the quarter, compared to the consensus estimate of $134.33 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post $-1.16 EPS for the current fiscal year.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime unloaded 2,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $73.08, for a total transaction of $146,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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