BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)‘s stock had its “outperform” rating reiterated by equities researchers at Credit Suisse Group in a report issued on Thursday. They presently have a $124.00 price objective on the biotechnology company’s stock, up from their prior price objective of $114.00. Credit Suisse Group’s price target would suggest a potential upside of 41.31% from the stock’s current price.

A number of other analysts have also recently commented on BMRN. Cowen and Company reissued a “buy” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 11th. BMO Capital Markets reissued an “outperform” rating and set a $115.00 target price (up previously from $111.00) on shares of BioMarin Pharmaceutical in a research note on Thursday, July 13th. SunTrust Banks, Inc. reissued a “buy” rating and set a $115.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, July 14th. Zacks Investment Research raised 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. Finally, ValuEngine cut shares of BioMarin Pharmaceutical from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. BioMarin Pharmaceutical has an average rating of “Hold” and a consensus price target of $111.25.

BioMarin Pharmaceutical (NASDAQ:BMRN) opened at 87.75 on Thursday. The stock’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’s 50 day moving average price is $92.50 and its 200-day moving average price is $90.06.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. The business had revenue of $317.50 million during the quarter, compared to analysts’ expectations of $311.41 million. BioMarin Pharmaceutical had a negative net margin of 15.54% and a negative return on equity of 5.77%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($2.61) earnings per share. Equities analysts expect that BioMarin Pharmaceutical will post ($0.73) EPS for the current year.

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In other news, Director V Bryan Lawlis sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total value of $342,225.00. Following the transaction, the director now directly owns 19,660 shares in the company, valued at approximately $1,794,171.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry J. Fuchs sold 15,000 shares of the company’s 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 transaction, the insider now owns 141,422 shares in the company, valued at $12,798,691. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,686 shares of company stock worth $3,736,318. Company insiders own 1.85% of the company’s stock.

Several hedge funds have recently modified their holdings of BMRN. Jennison Associates LLC lifted its holdings in shares of BioMarin Pharmaceutical by 33.8% in the 2nd 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 last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 63.7% in the 2nd 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 last quarter. USS Investment Management Ltd lifted its holdings in shares of BioMarin Pharmaceutical by 214.7% in the 2nd 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 last quarter. Vanguard Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 4.7% in the 2nd 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 last quarter. Finally, Manning & Napier Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 25.2% in the 2nd quarter. Manning & Napier Advisors LLC now owns 2,118,486 shares of the biotechnology company’s stock worth $192,399,000 after acquiring an additional 426,016 shares during the last quarter. Hedge funds and other institutional investors own 97.29% 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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