BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “buy” rating reiterated by analysts at Piper Jaffray Companies in a research note issued on Thursday. They presently have a $113.00 target price on the biotechnology company’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 22.07% from the company’s current price.

Several other brokerages have also recently weighed in on BMRN. ValuEngine upgraded BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Royal Bank Of Canada assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, September 14th. They set a “sector perform” rating and a $93.00 price target on the stock. BMO Capital Markets reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research report on Friday, September 15th. Zacks Investment Research upgraded BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 price target on the stock in a research report on Monday, July 17th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $115.00 price target on shares of BioMarin Pharmaceutical in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $109.09.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. The firm had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. During the same period in the prior year, the business posted ($2.61) earnings per share. The company’s revenue was up 5.8% on a year-over-year basis.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/21/biomarin-pharmaceutical-inc-bmrn-rating-reiterated-by-piper-jaffray-companies.html.

In other news, insider Henry J. Fuchs sold 15,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $90.50, for a total transaction of $1,357,500.00. Following the completion of the sale, the insider now owns 141,422 shares of the company’s stock, valued at $12,798,691. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP George Eric Davis sold 9,844 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total value of $950,930.40. Following the sale, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at approximately $9,024,855. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,594 shares of company stock valued at $2,650,655. Insiders own 2.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BMRN. Jennison Associates LLC lifted its stake in BioMarin Pharmaceutical by 33.8% in the second quarter. Jennison Associates LLC now owns 13,242,773 shares of the biotechnology company’s stock worth $1,202,709,000 after acquiring an additional 3,348,168 shares during the period. TIAA CREF Investment Management LLC lifted its stake in BioMarin Pharmaceutical by 63.7% in the second quarter. TIAA CREF Investment Management LLC now owns 2,251,011 shares of the biotechnology company’s stock worth $204,437,000 after acquiring an additional 875,686 shares during the period. Primecap Management Co. CA lifted its stake in BioMarin Pharmaceutical by 10.5% in the first quarter. Primecap Management Co. CA now owns 8,712,268 shares of the biotechnology company’s stock worth $764,763,000 after acquiring an additional 826,320 shares during the period. USS Investment Management Ltd lifted its stake in BioMarin Pharmaceutical by 214.7% in the second quarter. USS Investment Management Ltd now owns 1,089,933 shares of the biotechnology company’s stock worth $98,988,000 after acquiring an additional 743,599 shares during the period. Finally, Vanguard Group Inc. lifted its stake in BioMarin Pharmaceutical by 4.7% in the second quarter. Vanguard Group Inc. now owns 14,345,027 shares of the biotechnology company’s stock worth $1,302,816,000 after acquiring an additional 642,623 shares during the period. 97.46% of the stock is owned by hedge funds and other institutional investors.

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)

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.