Credit Suisse Group reissued their outperform rating on shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) in a research note released on Thursday morning. Credit Suisse Group currently has a $124.00 price objective on the biotechnology company’s stock, up from their prior price objective of $114.00.

BMRN has been the topic of a number of other reports. Morgan Stanley restated an overweight rating and issued a $117.00 price target (up from $115.00) on shares of BioMarin Pharmaceutical in a research note on Friday, October 6th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $129.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, October 6th. Deutsche Bank AG reaffirmed a buy rating and set a $119.00 price objective (up previously from $118.00) on shares of BioMarin Pharmaceutical in a report on Thursday, August 3rd. Royal Bank Of Canada started coverage on BioMarin Pharmaceutical in a report on Thursday, September 14th. They set a sector perform rating and a $93.00 price objective on the stock. Finally, Zacks Investment Research raised BioMarin Pharmaceutical from a hold rating to a strong-buy rating and set a $105.00 price objective on the stock in a report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the stock. BioMarin Pharmaceutical has an average rating of Hold and a consensus price target of $111.25.

Shares of BioMarin Pharmaceutical (BMRN) traded down 0.43% on Thursday, hitting $87.75. The stock had a trading volume of 1,329,715 shares. The firm’s market cap is $15.38 billion. BioMarin Pharmaceutical has a 12-month low of $78.42 and a 12-month high of $100.51. The stock has a 50 day moving average of $92.50 and a 200 day moving average of $90.06.

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, beating the Zacks’ 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 company had revenue of $317.50 million for the quarter, compared to analysts’ expectations of $311.41 million. During the same period last year, the firm earned ($2.61) earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts predict that BioMarin Pharmaceutical will post ($0.73) earnings per share for the current fiscal year.

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In other news, EVP Robert Baffi sold 18,415 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $92.43, for a total transaction of $1,702,098.45. Following the completion of the sale, the executive vice president now directly owns 129,083 shares in the company, valued at approximately $11,931,141.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the sale, the director now owns 19,660 shares of the company’s stock, valued at $1,794,171.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,686 shares of company stock valued at $3,736,318. Insiders own 1.85% of the company’s stock.

Several hedge funds have recently bought and sold shares of BMRN. Global X Management Co. LLC lifted its position in shares of BioMarin Pharmaceutical by 59.7% during the 1st quarter. Global X Management Co. LLC now owns 1,656 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 619 shares during the period. Korea Investment CORP lifted its position in shares of BioMarin Pharmaceutical by 143.5% during the 2nd quarter. Korea Investment CORP now owns 1,595 shares of the biotechnology company’s stock valued at $145,000 after acquiring an additional 940 shares during the period. Toronto Dominion Bank lifted its position in shares of BioMarin Pharmaceutical by 12.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,124 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 243 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at approximately $213,000. Finally, Cigna Investments Inc. New lifted its position in shares of BioMarin Pharmaceutical by 1.5% during the 2nd quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock valued at $216,000 after acquiring an additional 36 shares during the period. Institutional investors own 97.29% of the company’s stock.

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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