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BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday. They currently have a $68.00 price target on the stock. Zacks‘s price target points to a potential upside of 5.28% from the company’s current price.

Zacks’ analyst wrote, “BioMarin’s first quarter 2014 loss of $0.27 per share (including stock based compensation expense) was narrower than the Zacks Consensus Estimate of a loss of $0.50. Higher-than-expected revenues led to the narrower-than-expected loss. Total revenues (on an adjusted basis) climbed 19% to $155.3 million due to higher net product sales. The EU approval of Vimizim in April is a positive for BioMarin as the market has a greater population of MPS IVA patients compared to the U.S. where the drug was cleared in Feb 2014. We however see limited upside from current levels until more visibility is obtained on Vimizim’s progress and hence retain our neutral stance on the stock. Our target price is $68.00 per share.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse upgraded shares of BioMarin Pharmaceutical from a “neutral” rating to an “outperform” rating in a research note on Monday, June 9th. They now have a $73.00 price target on the stock, up previously from $61.74. Separately, analysts at Nomura reiterated a “neutral” rating on shares of BioMarin Pharmaceutical in a research note on Friday, May 2nd. They now have a $77.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. BioMarin Pharmaceutical currently has a consensus rating of “Hold” and a consensus target price of $81.07.

In other BioMarin Pharmaceutical news, CFO Daniel K. Spiegelman sold 2,229 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $64.00, for a total value of $142,656.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

BioMarin Pharmaceutical (NASDAQ:BMRN) traded up 0.48% during mid-day trading on Friday, hitting $64.59. 368,462 shares of the company’s stock traded hands. BioMarin Pharmaceutical has a one year low of $55.04 and a one year high of $84.25. The stock’s 50-day moving average is $60.71 and its 200-day moving average is $67.06. The company’s market cap is $9.425 billion. BioMarin Pharmaceutical also was the target of a significant decline in short interest in June. As of June 13th, there was short interest totalling 4,879,328 shares, a decline of 14.9% from the May 30th total of 5,731,273 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 1,538,819 shares, the short-interest ratio is currently 3.2 days.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.44) by $0.43. The company had revenue of $151.60 million for the quarter, compared to the consensus estimate of $145.16 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts expect that BioMarin Pharmaceutical will post $-1.72 EPS for the current fiscal year.

BioMarin Pharmaceutical Inc (NASDAQ:BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.

To view Zacks’ full report, visit Zacks’ official website.

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