Barclays Downgrades BioMarin Pharmaceutical to Equal Weight (BMRN)
BioMarin Pharmaceutical (NYSE:BMRN) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued on Friday, American Banking News.com reports. They currently have a $73.00 target price on the stock, down from their previous target price of $75.00. Barclays’ target price indicates a potential upside of 4.55% from the stock’s previous close.
BMRN has been the subject of a number of other recent research reports. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of BioMarin Pharmaceutical in a research note to investors on Wednesday, November 27th. Separately, analysts at Leerink Swann raised their price target on shares of BioMarin Pharmaceutical from $76.00 to $78.00 in a research note to investors on Wednesday, November 20th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of BioMarin Pharmaceutical from $86.00 to $83.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.00.
BioMarin Pharmaceutical (NYSE:BMRN) traded down 0.51% during mid-day trading on Friday, hitting $69.82. The stock had a trading volume of 938,010 shares. BioMarin Pharmaceutical has a 1-year low of $51.26 and a 1-year high of $80.67. The stock has a 50-day moving average of $69.48 and a 200-day moving average of $66.85. The company’s market cap is $9.929 billion.
BioMarin Pharmaceutical Inc (NYSE:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
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