Biomarin Pharm Stock Rating Reaffirmed by Zacks (BMRN)
Zacks reissued their neutral rating on shares of Biomarin Pharm (NASDAQ: BMRN) in a research report released on Tuesday morning, Analyst Ratings.Net reports. Zacks currently has a $68.00 price target on the stock.
Zacks’ analyst wrote, “BioMarin’s first quarter 2013 loss of $0.31 per share was wider than the Zacks Consensus Estimate of a loss of $0.28 and the year-ago loss of $0.21 per share. The wider loss was due to higher operating expenses. Total revenues climbed 9.7% to $127.9 million due to higher net product revenues. Though the company’s first quarter results were disappointing we are pleased by the company’s efforts to develop its pipeline. Vimizim, on approval is expected to drive growth at BioMarin. We see limited upside from current levels until more visibility is obtained regarding pipeline development at BioMarin and hence retain our neutral stance on the stock.”
A number of other firms have also recently commented on BMRN. Analysts at RBC Capital raised their price target on shares of Biomarin Pharm from $64.00 to $66.00 in a research note to investors on Friday, April 26th. They now have an outperform rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Biomarin Pharm from $70.00 to $72.00 in a research note to investors on Friday, April 26th. They now have a buy rating on the stock. Finally, analysts at Lazard Capital Markets raised their price target on shares of Biomarin Pharm from $71.00 to $77.00 in a research note to investors on Thursday, April 18th. They now have a buy rating on the stock.
Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $64.89.
Shares of Biomarin Pharm (NASDAQ: BMRN) opened at 63.68 on Tuesday. Biomarin Pharm has a 52 week low of $33.75 and a 52 week high of $66.63. The stock’s 50-day moving average is currently $62.1. The company’s market cap is $8.843 billion.
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions.
To view Zacks’ full report, visit www.zacks.com
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