.png "BioMarin (NASDAQ: BMRN)")
In a report released today, Eliana Merle from Cantor Fitzgerald maintained a Buy rating on BioMarin (BMRN), with a price target of $126. The company’s shares opened today at $87.58.
Merle said:
“The Disclosure Section may be found on pages 4 – 5.We think BioMarin is entering a new chapter in the company’s history with many major readouts from late stage programs, e.g. Valrox and vosoritide, on the horizon. Overweight rating and $126 price target are based on a probability adjusted DCF analysis. We apply an 8% discount rate and a 2% terminal growth rate, in line with peers.”
According to TipRanks.com, Merle is a 1-star analyst with an average return of -9.6% and a 8.3% success rate. Merle covers the Healthcare sector, focusing on stocks such as AnaptysBio Inc, Galapagos NV, and ProQR.
Currently, the analyst consensus on BioMarin is a Moderate Buy with an average price target of $124.50.
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The company has a one-year high of $106.74 and a one-year low of $75.81. Currently, BioMarin has an average volume of 1.07M.
Based on the recent corporate insider activity of 125 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. Most recently, in November 2018, Jean Jacques Bienaime, the CEO of BMRN bought 1,000 shares for a total of $14,390.
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.
