Citigroup Inc. began coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $98.00 price objective on the biotechnology company’s stock.

Several other analysts also recently weighed in on BMRN. Deutsche Bank AG reissued a buy rating and issued a $119.00 price target (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Wednesday, August 9th. Wedbush reissued a neutral rating and issued a $108.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 7th. UBS AG reissued a neutral rating and issued a $93.00 price target (up from $92.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Jefferies Group LLC set a $116.00 price target on shares of BioMarin Pharmaceutical and gave the stock a buy rating in a research note on Friday, August 25th. Finally, Cowen and Company reissued a buy rating on shares of BioMarin Pharmaceutical in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the stock. BioMarin Pharmaceutical presently has a consensus rating of Hold and an average target price of $109.22.

BioMarin Pharmaceutical (BMRN) opened at 90.67 on Thursday. The company’s 50-day moving average price is $85.89 and its 200 day moving average price is $89.51. The company’s market capitalization is $15.89 billion. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $101.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($2.61) earnings per share. Analysts forecast that BioMarin Pharmaceutical will post ($0.72) EPS for the current fiscal year.

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In related 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 value of $950,930.40. Following the completion of the transaction, the executive vice president now directly owns 93,425 shares of the company’s stock, valued at $9,024,855. The transaction was disclosed in a legal filing with the SEC, which is available through 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 completion of the transaction, the senior vice president now directly 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 three months, insiders sold 32,269 shares of company stock valued at $2,995,499. 2.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank grew its holdings in BioMarin Pharmaceutical by 12.9% in the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 243 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $368,000. WINTON GROUP Ltd purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $223,000. Ameritas Investment Partners Inc. grew its holdings 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 worth $284,000 after purchasing an additional 54 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in BioMarin Pharmaceutical by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 812 shares during the period. Institutional investors and hedge funds own 97.42% 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)

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