BioMarin Pharmaceutical Stock Rating Reaffirmed by Zacks (BMRN)
BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating restated by Zacks in a report issued on Friday, AnalystRatingsNetwork reports. They currently have a $73.00 price objective on the stock. Zacks‘ price objective would indicate a potential upside of 5.38% from the stock’s previous close.
Zacks‘ analyst wrote, “BioMarin’s third quarter 2013 loss of $0.36 per share (excluding debt conversion expense) was wider than the Zacks Consensus Estimate of a loss of $0.28 and the year-ago loss of $0.04 per share. The wider loss was due to higher expenses. Total revenues climbed 6.9% to $136.9 million due to higher net product sales. Meanwhile, the company’s lead pipeline candidate Vimizim is currently under review for MPS IVA. The candidate is expected to be approved in the U.S. later in the year. Approval of Vimizim will boost the company’s top-line further. We see limited upside from current levels until Vimizim gains approval and hence retain our neutral stance on the stock.”
In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 10,000 shares of the stock on the open market in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $68.71, for a total value of $687,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research note to investors on Friday, November 29th. Separately, analysts at Piper Jaffray initiated coverage on shares of BioMarin Pharmaceutical in a research note to investors on Tuesday, November 26th. They set an “overweight” rating and a $87.00 price target on the stock. Finally, analysts at Barclays reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note to investors on Wednesday, November 20th. They now have a $75.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.06.
BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.16% during mid-day trading on Friday, hitting $69.16. 251,243 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a 52 week low of $51.26 and a 52 week high of $80.67. The stock’s 50-day moving average is $69.24 and its 200-day moving average is $66.42. The company’s market cap is $9.835 billion.
BioMarin Pharmaceutical (NASDAQ:BMRN) last released its 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.
BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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