BioMarin Pharmaceutical Given New $75.00 Price Target at Barclays (BMRN)
Investment analysts at Barclays lifted their price target on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from $70.00 to $75.00 in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective would suggest a potential upside of 8.76% from the company’s current price.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 3.78% during mid-day trading on Friday, hitting $66.35. 2,113,930 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 52 week low of $36.28 and a 52 week high of $76.34. The stock has a 50-day moving average of $66.1 and a 200-day moving average of $62.93. The company’s market cap is $9.296 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.38) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.30) by $0.08. The company had revenue of $136.90 million for the quarter, compared to the consensus estimate of $140.00 million. During the same quarter last year, the company posted ($0.04) earnings per share. BioMarin Pharmaceutical’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that BioMarin Pharmaceutical will post $-1.15 earnings per share for the current fiscal year.
BMRN has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. reiterated a “market perform” rating on shares of BioMarin Pharmaceutical in a research note to investors on Friday, September 27th. Separately, analysts at Wedbush reiterated a “hold” rating on shares of BioMarin Pharmaceutical in a research note to investors on Friday, September 20th. They now have a $88.00 price target on the stock. Finally, analysts at William Blair reiterated a “hold” rating on shares of BioMarin Pharmaceutical in a research note to investors on Wednesday, September 18th. They now have a $88.00 price target on the stock. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $72.95.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 2,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $67.73, for a total transaction of $135,460.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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