Equities research analysts at SunTrust Banks assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $110.00 price target on the biotechnology company’s stock. SunTrust Banks’ target price suggests a potential upside of 46.59% from the stock’s previous close.

BMRN has been the topic of several other reports. Nomura cut their price objective on BioMarin Pharmaceutical from $93.00 to $77.00 in a research report on Thursday, October 24th. Stifel Nicolaus set a $108.00 price objective on BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Friday, September 13th. BidaskClub raised BioMarin Pharmaceutical from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Canaccord Genuity cut their price objective on BioMarin Pharmaceutical from $117.00 to $108.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $133.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. BioMarin Pharmaceutical presently has an average rating of “Buy” and a consensus price target of $106.53.

NASDAQ:BMRN traded down $0.54 during trading hours on Tuesday, reaching $75.04. 1,980,500 shares of the company traded hands, compared to its average volume of 1,602,160. The firm’s 50-day moving average is $70.21 and its 200-day moving average is $77.91. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.77 and a quick ratio of 2.53. BioMarin Pharmaceutical has a 1-year low of $62.88 and a 1-year high of $100.13. The stock has a market cap of $13.68 billion, a P/E ratio of -227.39, a P/E/G ratio of 144.20 and a beta of 1.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, October 23rd. The biotechnology company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.06 by $0.25. BioMarin Pharmaceutical had a negative return on equity of 1.35% and a negative net margin of 2.65%. The company had revenue of $461.10 million for the quarter, compared to analyst estimates of $455.78 million. During the same period last year, the company posted ($0.07) earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. As a group, research analysts predict that BioMarin Pharmaceutical will post 0.01 earnings per share for the current year.

In other news, CEO Jean Jacques Bienaime sold 5,000 shares of BioMarin Pharmaceutical stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $69.55, for a total transaction of $347,750.00. Following the sale, the chief executive officer now directly owns 332,520 shares of the company’s stock, valued at $23,126,766. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $74.47, for a total value of $279,262.50. Following the sale, the director now directly owns 27,340 shares in the company, valued at $2,036,009.80. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in BMRN. North Star Investment Management Corp. purchased a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $25,000. Doyle Wealth Management acquired a new position in BioMarin Pharmaceutical in the second quarter worth about $26,000. Usca Ria LLC acquired a new position in BioMarin Pharmaceutical in the third quarter worth about $26,000. Meeder Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 73.6% in the third quarter. Meeder Asset Management Inc. now owns 408 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 173 shares in the last quarter. Finally, Avestar Capital LLC grew its stake in BioMarin Pharmaceutical by 36.9% in the second quarter. Avestar Capital LLC now owns 750 shares of the biotechnology company’s stock worth $44,000 after purchasing an additional 202 shares in the last quarter. 97.62% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc, a biotechnology company, develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Aldurazyme to treat mucopolysaccharidosis I, a genetic disease; Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis type 2, a form of Batten disease; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

See Also: Penny Stocks, What You Need To Know

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

Receive News & Ratings for BioMarin Pharmaceutical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com's FREE daily email newsletter.