In a report released today, Eliana Merle from Cantor Fitzgerald initiated coverage with a Buy rating on BioMarin (NASDAQ: BMRN) and a price target of $126. The company’s shares closed on Friday at $96.97.
According to TipRanks.com, Merle is ranked #3450 out of 4886 analysts.
Currently, the analyst consensus on BioMarin is a Strong Buy with an average price target of $118.20.
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Based on BioMarin’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.79 million. In comparison, last year the company had a GAAP net loss of $12.53 million.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. Last month, Jean Jacques Bienaime, the CEO of BMRN bought 1,000 shares for a total of $14,390.
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BioMarin Pharmaceutical, Inc. is a biotechnology company, which develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its products include BioMarin, Brineura, Firdapse, Kuvan, Naglazyme, and Vimizim.
