Cantor Fitzgerald Sticks to Their Buy Rating for BioMarin (BMRN)

Cantor Fitzgerald analyst Eliana Merle maintained a Buy rating on BioMarin (NASDAQ: BMRN) today and set a price target of $126. The company’s shares closed on Friday at $101.09.

Merle observed:

“2019 as a Key Inflection Point REV 1Q 2Q 3Q 4Q 2017A 303.7A 317.4A 334.1A 358.3A 2018E 373.4A 372.8A 367.1E 386.8E 2019E 405.9E 430.7E 450.8E 470.4E EPS 1Q 2Q 3Q 4Q 2017A 0.20A 0.15A 0.04A 0.03A 2018E 0.12A 0.11A 0.15E 0.27E 2019E 0.31E 0.37E 0.43E 0.46E FY 2017A 2018E 2019E REV 1,313.6A 1,500.2E 1,757.9E P/E — — 64.8x Investment summary. We reiterate our OW and $126 PT. We are highlighting feedback from our recent initiation report (link). We continue to think the profitability of the base business is overlooked, with most investors focused on near- term data controversies. Although we can appreciate the near-term debates, our due diligence suggests that one or both late-stage programs (valrox and vosorotide) could potentially have positive data/regulatory updates in 2019.”

Merle has an average return of 3.4% when recommending BioMarin.

According to TipRanks.com, Merle is ranked #3296 out of 4881 analysts.

Currently, the analyst consensus on BioMarin is a Strong Buy with an average price target of $118.20, implying a 16.9% upside from current levels. In a report issued on October 1, J.P. Morgan also maintained a Buy rating on the stock with a $135 price target.

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The company has a one-year high of $106.20 and a one-year low of $75.81. Currently, BioMarin has an average volume of 1.15M.

Based on the recent corporate insider activity of 118 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.

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.