Canaccord Genuity Begins Covering BioMarin (NASDAQ:BMRN) Stock. “Shares to Hit $101.0000”

May 16, 2018 - By Migdalia James

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.

Goldman Sachs Grp Inc Inc invested in 2.87 million shares or 0.06% of the stock. Public Employees Retirement Association Of Colorado has 0.02% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). State Of Alaska Department Of Revenue holds 0.04% or 18,691 shares in its portfolio. Tci Wealth Advisors owns 0% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 60 shares. Arizona State Retirement System has 33,234 shares for 0.03% of their portfolio. Rhumbline Advisers has 0.04% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Bnp Paribas Asset Mngmt Hldgs Sa stated it has 0.22% in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Vantage Inv Limited Liability Corp invested in 0% or 75 shares. Hsbc Holdings Public Limited Co owns 0.01% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 39,242 shares. Amundi Pioneer Asset Mgmt holds 0.03% or 188,952 shares. 80,000 are held by Weiss Multi. Hightower Advsr Ltd Liability Com has 0% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 3,793 shares. Moreover, Commonwealth National Bank Of Aus has 0% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) for 170 shares. Moreover, Nelson Van Denburg Campbell Wealth Mngmt Limited Liability has 0.02% invested in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN). Pacad Inv Limited, a British Columbia – Canada-based fund reported 2,500 shares.

Since December 14, 2017, it had 0 buys, and 21 insider sales for $14.93 million activity. On Tuesday, April 17 LAWLIS V BRYAN sold $318,750 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) or 3,750 shares. $903,203 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares were sold by BIENAIME JEAN JACQUES. 2,119 shares were sold by Ajer Jeffrey Robert, worth $169,774. 10,000 shares were sold by FUCHS HENRY J, worth $801,200. 800 BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) shares with value of $71,116 were sold by HERON ELAINE J. SPIEGELMAN DANIEL K also sold $908,497 worth of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) on Monday, April 23.

Why Has Canaccord Genuity Given BioMarin (NASDAQ:BMRN) a $101.0000 Price Target

In analysts note made public on Tuesday morning, Canaccord Genuity analyst has today has initiated coverage for BioMarin (NASDAQ:BMRN) shares with a “Buy” rating. The target is $101.0000.

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 28.90% above currents $89.93 stock price. Biomarin Pharmaceutical had 17 analyst reports since December 14, 2017 according to SRatingsIntel. The stock has “Outperform” rating by Wedbush on Thursday, December 14. Wedbush maintained the shares of BMRN in report on Friday, April 20 with “Buy” rating. J.P. Morgan maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rating on Thursday, April 26. J.P. Morgan has “Buy” rating and $12700 target. BMO Capital Markets maintained the stock with “Outperform” rating in Friday, February 23 report. JP Morgan maintained BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) rating on Wednesday, January 24. JP Morgan has “Outperform” rating and $129 target. Morgan Stanley maintained the stock with “Overweight” rating in Monday, April 30 report. The rating was maintained by Wedbush with “Buy” on Monday, March 12. As per Friday, February 23, the company rating was maintained by Leerink Swann. On Tuesday, February 27 the stock rating was maintained by RBC Capital Markets with “Hold”. The firm has “Buy” rating given on Friday, February 23 by Stifel Nicolaus.

The stock increased 1.38% or $1.23 during the last trading session, reaching $89.93. About 325,293 shares traded. BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has declined 11.55% since May 16, 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 $15.89 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: Seekingalpha.com which released: “BioMarin Pharmaceutical (BMRN) Q1 2018 Results – Earnings Call Transcript” on April 26, 2018, also Seekingalpha.com with their article: “Premarket analyst action – healthcare” published on May 16, 2018, Streetinsider.com published: “Viking Global’s 13F Shows New Stakes in Alibaba (BABA), BioMarin (BMRN) and Western Digital (WDC), Increase in …” on May 15, 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 Prnewswire.com‘s news article titled: “BioMarin Announces First Patient Dosed in Phase 1/2 Study Evaluating Valoctocogene Roxaparvovec Gene Therapy …” with publication date: May 15, 2018.

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