J.P. Morgan Sticks to Its Buy Rating for BioMarin (BMRN)


J.P. Morgan analyst Cory Kasimov maintained a Buy rating on BioMarin (BMRN) yesterday. The company’s shares closed yesterday at $90.19.

According to TipRanks.com, Kasimov is a 1-star analyst with an average return of -0.4% and a 38.3% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Allogene Therapeutics Inc, and Jounce Therapeutics Inc.

Currently, the analyst consensus on BioMarin is a Moderate Buy with an average price target of $124.50, implying a 38.0% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $126 price target.

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Based on BioMarin’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $12.62 million. In comparison, last year the company had a GAAP net loss of $51.39 million.

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.

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