BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “neutral” rating reiterated by Wedbush in a research note issued to investors on Monday. They presently have a $108.00 price objective on the biotechnology company’s stock. Wedbush’s price target would suggest a potential upside of 21.28% from the stock’s previous close.

BMRN has been the subject of several other research reports. Jefferies Group LLC reiterated a “buy” rating and set a $116.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, April 26th. Vetr cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating and set a $95.10 target price for the company. in a research report on Monday, April 10th. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Monday, May 1st. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, April 18th. Finally, BMO Capital Markets dropped their target price on shares of BioMarin Pharmaceutical from $112.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $110.20.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) traded down 0.72% during mid-day trading on Monday, reaching $89.05. 931,832 shares of the company’s stock were exchanged. BioMarin Pharmaceutical has a 52-week low of $78.42 and a 52-week high of $102.49. The company has a 50 day moving average price of $90.43 and a 200 day moving average price of $90.03. The firm’s market cap is $15.61 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.01. The company had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.61) EPS. Analysts forecast that BioMarin Pharmaceutical will post ($0.72) earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “BioMarin Pharmaceutical’s (BMRN) “Neutral” Rating Reaffirmed at Wedbush” was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/07/biomarin-pharmaceuticals-bmrn-neutral-rating-reaffirmed-at-wedbush.html.

In other news, EVP George Eric Davis sold 9,844 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the completion of the transaction, the executive vice president now directly owns 93,425 shares in the company, valued at approximately $9,024,855. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Brian Mueller sold 2,671 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $267,100.00. Following the transaction, the senior vice president now owns 15,556 shares of the company’s stock, valued at $1,555,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,740 shares of company stock valued at $5,659,589. Company insiders own 2.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of BMRN. Parallel Advisors LLC increased its position in BioMarin Pharmaceutical by 13.6% in the first quarter. Parallel Advisors LLC now owns 1,042 shares of the biotechnology company’s stock worth $100,000 after buying an additional 125 shares in the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the first quarter worth about $114,000. Korea Investment CORP boosted its stake in shares of BioMarin Pharmaceutical by 143.5% in the second quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock worth $145,000 after buying an additional 940 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of BioMarin Pharmaceutical by 59.7% in the first quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock worth $145,000 after buying an additional 619 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of BioMarin Pharmaceutical by 27.1% in the first quarter. Toronto Dominion Bank now owns 1,881 shares of the biotechnology company’s stock worth $165,000 after buying an additional 401 shares during the last quarter. Institutional investors own 96.82% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical Inc. and related companies with MarketBeat.com's FREE daily email newsletter.