Wedbush Reiterates “Hold” Rating for BioMarin Pharmaceutical (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “hold” rating restated by equities research analysts at Wedbush in a research note issued to investors on Friday, StockRatingsNetwork.com reports. They currently have a $88.00 price target on the stock. Wedbush’s target price indicates a potential upside of 14.36% from the stock’s previous close.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 1.83% during mid-day trading on Friday, hitting $76.95. 2,549,913 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 52-week low of $36.28 and a 52-week high of $80.67. The stock has a 50-day moving average of $67.97 and a 200-day moving average of $63.58. The company’s market cap is $10.781 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings data on Thursday, July 25th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that BioMarin Pharmaceutical will post $-1.15 earnings per share for the current fiscal year.
A number of other firms have also recently commented on BMRN. Analysts at William Blair reiterated a “hold” rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Wednesday. They now have a $88.00 price target on the stock. Separately, analysts at RBC Capital reiterated a “buy” rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note to investors on Wednesday. They now have a $77.00 price target on the stock. Finally, 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.
Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. BioMarin Pharmaceutical currently has an average rating of “Buy” and a consensus target price of $72.68.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 2,000 shares of BioMarin Pharmaceutical stock on the open market in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $73.08, for a total transaction of $146,160.00. The sale was disclosed in a legal 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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