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BioMarin Pharmaceutical (BMRN) Received its Third Buy in a Row

After Piper Sandler and Stifel Nicolaus gave BioMarin Pharmaceutical (NASDAQ: BMRN) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Akash Tewari maintained a Buy rating on BioMarin Pharmaceutical yesterday and set a price target of $100.00. The company’s shares closed last Tuesday at $78.40.

According to TipRanks.com, Tewari is a 4-star analyst with an average return of 15.1% and a 48.3% success rate. Tewari covers the Healthcare sector, focusing on stocks such as Zentalis Pharmaceuticals, Arvinas Holding Company, and Enanta Pharmaceuticals.

Currently, the analyst consensus on BioMarin Pharmaceutical is a Strong Buy with an average price target of $108.21, which is a 40.1% upside from current levels. In a report issued on June 6, Credit Suisse also maintained a Buy rating on the stock with a $106.00 price target.

See today’s best-performing stocks on TipRanks >>

BioMarin Pharmaceutical’s market cap is currently $14.5B and has a P/E ratio of 448.00.

Based on the recent corporate insider activity of 68 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 2022, George Eric Davis, the EVP, Chief Legal Officer of BMRN bought 2,669 shares for a total of $99,981.

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 engages in the development and commercialization of therapies for people with serious and life-threatening rare diseases and medical conditions. Its pipeline include Vosoritide (BMN 111) for Achondroplasia and Valoctocogene Roxaparvovec (BMN 270) for Hemophilia A. The company was founded by John C. Klock, Christopher M. Starr and Grant W. Denison on March 21, 1997 and is headquartered in San Rafael, CA.

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