Equities researchers at Evercore ISI began coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a report issued on Wednesday. The firm set an “outperform” rating and a $100.00 price target on the biotechnology company’s stock. Evercore ISI’s price target suggests a potential upside of 20.38% from the company’s current price.

Other research analysts have also issued research reports about the stock. Cowen and Company reaffirmed a “buy” rating and set a $150.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, April 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, May 5th. Zacks Investment Research raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Monday, May 1st. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Monday, May 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $116.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, April 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. BioMarin Pharmaceutical currently has an average rating of “Hold” and a consensus price target of $109.73.

BioMarin Pharmaceutical (NASDAQ BMRN) opened at 83.07 on Wednesday. The company has a 50-day moving average price of $88.18 and a 200-day moving average price of $89.98. BioMarin Pharmaceutical has a 1-year low of $78.42 and a 1-year high of $102.06. The firm’s market capitalization is $14.56 billion.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analyst estimates of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.61) earnings per share. On average, equities research analysts predict that BioMarin Pharmaceutical will post ($0.71) earnings per share for the current fiscal year.

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In other news, CEO Jean Jacques Bienaime sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $88.38, for a total transaction of $441,900.00. Following the sale, the chief executive officer now directly owns 238,564 shares of the company’s stock, valued at $21,084,286.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $90.00, for a total transaction of $337,500.00. Following the sale, the director now directly owns 19,660 shares in the company, valued at $1,769,400. The disclosure for this sale can be found here. Insiders have sold 56,740 shares of company stock worth $5,200,939 over the last three months. 2.50% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in BMRN. Cigna Investments Inc. New boosted its stake in BioMarin Pharmaceutical by 1.5% in the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 36 shares during the period. Daiwa Securities Group Inc. boosted its stake in BioMarin Pharmaceutical by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,950 shares of the biotechnology company’s stock valued at $450,000 after buying an additional 50 shares during the period. Ameritas Investment Partners Inc. boosted its stake in BioMarin Pharmaceutical by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock valued at $284,000 after buying an additional 54 shares during the period. NGAM Advisors L.P. boosted its stake in BioMarin Pharmaceutical by 0.4% in the second quarter. NGAM Advisors L.P. now owns 15,245 shares of the biotechnology company’s stock valued at $1,385,000 after buying an additional 55 shares during the period. Finally, Grandfield & Dodd LLC boosted its stake in BioMarin Pharmaceutical by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 5,727 shares of the biotechnology company’s stock valued at $503,000 after buying an additional 65 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

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)

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