Stifel Nicolaus Downgrades BioMarin Pharmaceutical to Hold (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on BMRN. Analysts at Merrill Lynch reiterated a “buy” rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Monday. Separately, 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. Finally, analysts at Canaccord Genuity set a $85.00 price target on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Thursday, September 5th. They now have a “buy” rating on the stock.
Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. BioMarin Pharmaceutical presently has an average rating of “Buy” and a consensus price target of $69.56.
Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 75.96 on Wednesday. BioMarin Pharmaceutical has a 52-week low of $36.28 and a 52-week high of $76.34. The stock’s 50-day moving average is $66.85 and its 200-day moving average is $63.25. The company’s market cap is $10.642 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly 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 last year, the company posted ($0.27) earnings per share. BioMarin Pharmaceutical’s revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that BioMarin Pharmaceutical will post $-1.16 earnings per share for the current fiscal year.
In other BioMarin Pharmaceutical news, EVP Robert Baffi unloaded 20,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $73.00, for a total transaction of $1,460,000.00. The transaction was disclosed in a filing with the SEC, 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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