J.P. Morgan Thinks BioMarin Pharmaceutical’s Stock is Going to Recover

In a report issued on April 29, Cory Kasimov from J.P. Morgan maintained a Buy rating on BioMarin Pharmaceutical (BMRN), with a price target of $129.00. The company’s shares closed last Monday at $78.33, close to its 52-week low of $71.35.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 18.9% and a 55.1% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, ACADIA Pharmaceuticals, and Vertex Pharmaceuticals.

Currently, the analyst consensus on BioMarin Pharmaceutical is a Strong Buy with an average price target of $105.92, implying a 35.3% upside from current levels. In a report issued on April 16, Wedbush also reiterated a Buy rating on the stock with a $139.00 price target.

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The company has a one-year high of $131.95 and a one-year low of $71.35. Currently, BioMarin Pharmaceutical has an average volume of 1.11M.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is neutral on the stock. Most recently, in March 2021, Michael Grey, a Director at BMRN sold 5,000 shares for a total of $381,400.

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 engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline include Vosoritide (BMN 111) for Achondroplasia and Valoctocogene Roxaparvovec (BMN 270) for Hemophilia A. The company was founded by John C. Klock, Christopher M. Starr and Grant W. Denison on March 21, 1997 and is headquartered in San Rafael, CA.

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