BioMarin Gets a Buy Rating from Cowen & Co.

In a report released today, Phil Nadeau from Cowen & Co. assigned a Buy rating to BioMarin (NASDAQ: BMRN), with a price target of $150. The company’s shares opened today at $87.

According to TipRanks.com, Nadeau is a 5-star analyst with an average return of 13.4% and a 55.5% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Voyager Therapeutics Inc.

Currently, the analyst consensus on BioMarin is Strong Buy and the average price target is $117.36, representing a 34.9% upside.

In a report issued on May 15, Canaccord Genuity also initiated coverage with a Buy rating on the stock with a $101 price target.

See today’s analyst top recommended stocks >>

Based on BioMarin’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $44.15 million. In comparison, last year the company had a GAAP net loss of $16.29 million.

Based on the recent corporate insider activity of 104 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BMRN in relation to earlier this year. Earlier this month, Richard Meier, a Director at BMRN bought 15,000 shares for a total of $578,850.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.