Wedbush Keeps Their Buy Rating on BioMarin Pharmaceutical Inc. (BMRN)


Wedbush analyst Liana Moussatos reiterated a Buy rating on BioMarin Pharmaceutical Inc. (BMRN) today and set a price target of $128. The company’s shares closed yesterday at $83.13, close to its 52-week low of $79.13.

According to TipRanks.com, Moussatos has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.8% and a 33.6% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as Allena Pharmaceuticals Inc, Aquestive Therapeutics Inc, and Global Blood Therapeutics.

Currently, the analyst consensus on BioMarin Pharmaceutical Inc. is a Strong Buy with an average price target of $127.33, representing a 53.2% upside. In a report issued on July 8, Piper Jaffray also maintained a Buy rating on the stock.

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Based on BioMarin Pharmaceutical Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $56.47 million. In comparison, last year the company had a GAAP net loss of $16.79 million.

Based on the recent corporate insider activity of 118 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 April 2019, Jean Jacques Bienaime, the CEO of BMRN bought 1,000 shares for a total of $21,510.

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 Aldurazyme, Brineura, Kuvan, Naglazyme, Palynziq and Vimizim.

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