BioMarin Pharm (NASDAQ:BMRN) Is Now Covered By Canaccord Genuity. What can We Expect?

May 17, 2018 - By Dolores Ford

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Logo

Investors sentiment increased to 1.21 in Q4 2017. Its up 0.08, from 1.13 in 2017Q3. It increased, as 37 investors sold BioMarin Pharmaceutical Inc. shares while 112 reduced holdings. 51 funds opened positions while 130 raised stakes. 172.01 million shares or 0.29% more from 171.51 million shares in 2017Q3 were reported.

Virginia-based Sands Cap Limited Company has invested 2.09% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Westfield Capital Mgmt Commerce Ltd Partnership, Massachusetts-based fund reported 264,630 shares. Ing Groep Nv stated it has 0.01% of its portfolio in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Rock Springs Capital Mgmt Ltd Partnership reported 125,000 shares stake. Clough Prtnrs Ltd Partnership has invested 0.29% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). State Street owns 3.99 million shares. Tci Wealth Advsrs Incorporated invested 0% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Plante Moran Fincl Advisors Limited Liability Company holds 68 shares. Platinum Investment Mgmt reported 13,820 shares. California Public Employees Retirement Sys owns 0.04% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 362,700 shares. M&T Fincl Bank Corporation reported 12,401 shares. Tiaa Cref Invest Mgmt Ltd Liability Com stated it has 1.74M shares. Moreover, Portfolio Solutions Ltd Llc has 0% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Schmidt P J Invest Management Inc owns 3,473 shares. Symphony Asset Management Ltd Liability invested in 0.06% or 6,450 shares.

Since December 14, 2017, it had 0 insider purchases, and 21 selling transactions for $14.93 million activity. $1.34M worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) was sold by FUCHS HENRY J. The insider SPIEGELMAN DANIEL K sold $908,497. $318,750 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares were sold by LAWLIS V BRYAN. 2,119 shares valued at $169,774 were sold by Ajer Jeffrey Robert on Monday, April 2. Davis George Eric sold $166,379 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Monday, March 5. HERON ELAINE J also sold $71,116 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares.

Why Has Canaccord Genuity Given BioMarin Pharm (NASDAQ:BMRN) a $101 Price Target

Investment analysts at Canaccord Genuity started coverage on shares of BioMarin Pharm (NASDAQ:BMRN) in a note revealed to clients and investors on Wednesday, 16 May. The financial company set “Buy” rating on the stock. Canaccord Genuity’s TP of $101 suggests potential of 12.82 % from the stock’s current stock price.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Coverage

Among 12 analysts covering Biomarin Pharmaceutical (NASDAQ:BMRN), 10 have Buy rating, 0 Sell and 2 Hold. Therefore 83% are positive. Biomarin Pharmaceutical has $14500 highest and $9200 lowest target. $115.92’s average target is 29.49% above currents $89.52 stock price. Biomarin Pharmaceutical had 17 analyst reports since December 14, 2017 according to SRatingsIntel. The firm earned “Hold” rating on Tuesday, February 27 by RBC Capital Markets. The firm earned “Buy” rating on Friday, February 23 by Stifel Nicolaus. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has “Overweight” rating given on Friday, February 23 by Morgan Stanley. Wedbush maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Wednesday, December 20 with “Buy” rating. The stock of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) earned “Buy” rating by Piper Jaffray on Thursday, January 18. Wedbush maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Monday, March 12 with “Buy” rating. The rating was upgraded by Wedbush to “Outperform” on Thursday, December 14. The rating was maintained by J.P. Morgan on Thursday, April 26 with “Buy”. Deutsche Bank maintained the stock with “Buy” rating in Friday, February 23 report. The firm has “Outperform” rating given on Wednesday, January 24 by JP Morgan.

The stock increased 0.92% or $0.82 during the last trading session, reaching $89.52. About 567,966 shares traded. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has declined 11.55% since May 17, 2017 and is downtrending. It has underperformed by 23.10% the S&P500.

Analysts await BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) to report earnings on August, 1. They expect $-0.05 EPS, 0.00 % or $0.00 from last year’s $-0.05 per share. After $-0.08 actual EPS reported by BioMarin Pharmaceutical Inc. for the previous quarter, Wall Street now forecasts -37.50 % EPS growth.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions in the United States, Europe, Latin America, and internationally. The company has market cap of $15.82 billion. The Company’s commercial products include Aldurazyme used for the treatment of patients with mucopolysaccharidosis I, a genetic disease; Kuvan, a proprietary synthetic oral form of 6R-BH4 used to treat patients with phenylketonuria , an inherited metabolic disease; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with mucopolysaccharidosis VI; and Vimizim, an enzyme replacement therapy for the treatment of MPS IV A, a lysosomal storage disorder. It currently has negative earnings. The firm also conducts clinical trials on several investigational product candidates for the treatment of various diseases, including Brineura for the treatment of late infantile neuronal ceroid lipofuscinosis, a form of Batten disease; pegvaliase, an enzyme substitution therapy for the treatment of PKU; vosoritide, a peptide therapeutic for the treatment of achondroplasia; BMN 270, an AAV VIII vector and Factor VIII gene therapy drug development candidate, for the treatment of hemophilia A; and BMN 250, a novel fusion of alpha-N-acetyglucosaminidase for the treatment of Sanfilippo B syndrome, or mucopolysaccharidosis type IIIB.

More notable recent BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) news were published by: Streetinsider.com which released: “Viking Global’s 13F Shows New Stakes in Alibaba (BABA), BioMarin (BMRN) and Western Digital (WDC), Increase in …” on May 15, 2018, also Benzinga.com with their article: “Benzinga’s Top Upgrades, Downgrades For May 16, 2018” published on May 16, 2018, Seekingalpha.com published: “BioMarin Pharmaceutical (BMRN) Q1 2018 Results – Earnings Call Transcript” on April 26, 2018. More interesting news about BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) were released by: Gurufocus.com and their article: “Andreas Halvorsen Buys Alibaba, United States Steel in 1st Quarter” published on May 15, 2018 as well as Seekingalpha.com‘s news article titled: “Premarket analyst action – healthcare” with publication date: May 16, 2018.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Ratings Chart

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