BioMarin Pharmaceutical (BMRN) Receives a Buy from SVB Securities

SVB Securities analyst Joseph Schwartz maintained a Buy rating on BioMarin Pharmaceutical (BMRNResearch Report) on July 13. The company’s shares closed last Friday at $85.23.

According to TipRanks.com, Schwartz has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.4% and a 35.5% success rate. Schwartz covers the Healthcare sector, focusing on stocks such as Applied Molecular Transport, Ultragenyx Pharmaceutical, and Mereo Biopharma Group Plc.

Currently, the analyst consensus on BioMarin Pharmaceutical is a Strong Buy with an average price target of $109.19, a 27.6% upside from current levels. In a report issued on July 12, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $110.00 price target.

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BioMarin Pharmaceutical’s market cap is currently $15.77B and has a P/E ratio of 487.03.

Based on the recent corporate insider activity of 67 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.

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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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