Wedbush Reiterates Hold Rating for BioMarin Pharmaceutical (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “hold” rating reiterated by equities researchers at Wedbush in a research report issued on Friday, StockRatingsNetwork.com reports. They currently have a $88.00 price objective on the stock. Wedbush’s price objective would suggest a potential upside of 27.61% from the company’s current price.
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime unloaded 2,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $67.73, for a total value of $135,460.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 4.44% during mid-day trading on Friday, hitting $65.895. The stock had a trading volume of 2,410,380 shares. 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 $9.232 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings data on Thursday, October 24th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 6.9% 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.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of BioMarin Pharmaceutical from $70.00 to $75.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, 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. 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical presently has a consensus rating of “Buy” and an average target price of $72.95.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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