Investment analysts at Piper Jaffray set a $72.00 target price on shares of Biomarin Pharm (NASDAQ: BMRN) stock in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

The analysts wrote, “BioMarin announced positive results from POM-001, the Phase I/II trial of BMN-701 in Pompe disease and confirmed its intention to advance ‘701 into Phase II/III by YE13. Overall, we believe the data are positive, with patients achieving meaningful improvements in pulmonary function and greater proportion of super responders in 6MWD. However, we believe the bar for success was relatively low, given go/no-go criteria outlined on the 4Q call and Myozyme’s modest efficacy. Additionally, we note some variability in the data including lack of change in select pulmonary function measures (FVC).”

Biomarin Pharm (NASDAQ: BMRN) traded up 0.53% on Wednesday, hitting $61.08. Biomarin Pharm has a 52-week low of $31.91 and a 52-week high of $62.96. The stock’s 50-day moving average is currently $57.56. The company’s market cap is $7.702 billion.

Biomarin Pharm (NASDAQ: BMRN) last released its earnings data on Thursday, February 21st. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by $0.21. The company had revenue of $130.96 million for the quarter, compared to the consensus estimate of $129.70 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. Analysts expect that Biomarin Pharm will post $-1.34 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at S&P Equity Research downgraded shares of Biomarin Pharm from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Biomarin Pharm in a research note to investors on Monday, February 25th. They now have a $59.00 price target on the stock. Finally, analysts at Lazard Capital Markets cut their price target on shares of Biomarin Pharm from $70.00 to $68.00 in a research note to investors on Friday, February 22nd. They now have a “buy” rating on the stock.

Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Biomarin Pharm has an average rating of “Buy” and a consensus price target of $62.89.

BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.

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