BMO Capital Markets reiterated their buy rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note issued to investors on Friday.

Several other research firms also recently weighed in on BMRN. Sanford C. Bernstein initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, July 27th. They issued a market perform rating and a $89.00 price target for the company. Evercore ISI initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 16th. They issued an outperform rating and a $100.00 price target for the company. Royal Bank Of Canada initiated coverage on BioMarin Pharmaceutical in a research note on Thursday, September 14th. They issued a sector perform rating and a $93.00 price target for the company. SunTrust Banks, Inc. restated a buy rating and issued a $115.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Finally, Barclays PLC restated an equal weight rating and issued a $100.00 price target (down from $105.00) on shares of BioMarin Pharmaceutical in a research note on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $109.09.

Shares of BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 91.98 on Friday. BioMarin Pharmaceutical has a 12 month low of $78.42 and a 12 month high of $100.51. The firm’s 50-day moving average is $86.59 and its 200 day moving average is $89.49. The company’s market capitalization is $16.12 billion.

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 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 business had revenue of $317.50 million during the quarter, compared to the consensus estimate of $311.41 million. During the same period in the prior year, the company posted ($2.61) EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that BioMarin Pharmaceutical will post ($0.71) EPS for the current year.

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In other BioMarin Pharmaceutical news, EVP George Eric Davis sold 9,844 shares of the stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $96.60, for a total value of $950,930.40. Following the sale, the executive vice president now owns 93,425 shares in the company, valued at $9,024,855. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Brian Mueller sold 2,671 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.00, for a total value of $267,100.00. Following the completion of the sale, the senior vice president now owns 15,556 shares in the company, valued at approximately $1,555,600. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake 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 purchasing an additional 125 shares during the period. Korea Investment CORP increased its stake in 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 purchasing an additional 940 shares during the period. Global X Management Co. LLC increased its stake in 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 purchasing an additional 619 shares during the period. Mutual of America Capital Management LLC increased its stake in BioMarin Pharmaceutical by 20.0% in the first quarter. Mutual of America Capital Management LLC now owns 2,066 shares of the biotechnology company’s stock worth $181,000 after purchasing an additional 344 shares during the period. Finally, Toronto Dominion Bank increased its stake 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. Institutional investors and hedge funds own 97.46% 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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