Morgan Stanley Believes BioMarin Pharmaceutical (BMRN) Still Has Room to Grow

Morgan Stanley analyst Matthew Harrison maintained a Buy rating on BioMarin Pharmaceutical (BMRNResearch Report) today and set a price target of $117.00. The company’s shares closed last Thursday at $91.47, close to its 52-week high of $94.20.

According to TipRanks.com, Harrison is a 4-star analyst with an average return of 7.0% and a 51.0% success rate. Harrison covers the Healthcare sector, focusing on stocks such as Centessa Pharmaceuticals, Ionis Pharmaceuticals, and Fulcrum Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for BioMarin Pharmaceutical with a $111.31 average price target, implying a 23.8% upside from current levels. In a report issued on August 1, J.P. Morgan also initiated coverage with a Buy rating on the stock with a $140.00 price target.

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The company has a one-year high of $94.20 and a one-year low of $70.73. Currently, BioMarin Pharmaceutical has an average volume of 1.14M.

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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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