Equities researchers at Royal Bank Of Canada started coverage on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research report issued on Thursday. The brokerage set a “sector perform” rating and a $93.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 1.19% from the company’s current price.

Several other equities research analysts also recently issued reports on BMRN. Deutsche Bank AG reiterated a “buy” rating and issued a $119.00 target price (up from $118.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “strong-buy” rating and set a $105.00 target price for the company in a research note on Monday, July 17th. Citigroup Inc. began coverage on shares of BioMarin Pharmaceutical in a research note on Thursday, August 31st. They issued a “buy” rating and a $98.00 target price for the company. Cowen and Company reiterated a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of BioMarin Pharmaceutical from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical has a consensus rating of “Hold” and a consensus target price of $109.09.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 91.91 on Thursday. The firm’s market cap is $16.11 billion. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $101.27. The firm has a 50 day moving average price of $86.49 and a 200-day moving average price of $89.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data 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. The company had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative return on equity of 5.77% and a negative net margin of 15.54%. BioMarin Pharmaceutical’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned ($2.61) EPS. On average, analysts predict that BioMarin Pharmaceutical will post ($0.71) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “BioMarin Pharmaceutical Inc. (BMRN) Now Covered by Royal Bank Of Canada” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/09/16/biomarin-pharmaceutical-inc-bmrn-now-covered-by-royal-bank-of-canada.html.

In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 9,844 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $96.60, for a total transaction of $950,930.40. Following the sale, the executive vice president now 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 accessible through this link. Also, SVP Brian Mueller sold 2,671 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total transaction of $267,100.00. Following the sale, the senior vice president now directly owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. Insiders sold 27,515 shares of company stock worth $2,568,030 over the last three months. 2.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank grew its stake in shares of BioMarin Pharmaceutical by 12.9% during the second quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock worth $193,000 after buying an additional 243 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $368,000. WINTON GROUP Ltd bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $223,000. Ameritas Investment Partners Inc. grew its stake in shares of BioMarin Pharmaceutical by 1.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,126 shares of the biotechnology company’s stock worth $284,000 after buying an additional 54 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of BioMarin Pharmaceutical by 13.6% during the second quarter. The Manufacturers Life Insurance Company now owns 6,798 shares of the biotechnology company’s stock worth $617,000 after buying an additional 812 shares during the last quarter. 97.42% of the stock is currently owned by hedge funds and other institutional investors.

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 & Stock 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 stocks with our FREE daily email newsletter.