BioMarin Receives a Buy from Credit Suisse

By Jason Carr

Credit Suisse analyst Alethia Young reiterated a Buy rating on BioMarin (NASDAQ: BMRN) on November 3 and set a price target of $111. The company’s shares closed last Friday at $82.

According to TipRanks.com, Young is ranked 0 out of 5 stars with an average return of -11.6% and a 24.2% success rate. Young covers the Healthcare sector, focusing on stocks such as Achillion Pharmaceuticals, Ionis Pharmaceuticals Inc, and Alexion Pharmaceuticals.

Currently, the analyst consensus on BioMarin is Strong Buy and the average price target is $115.50, representing a 40.9% upside.

In a report issued on October 27, Piper Jaffray also reiterated a Buy rating on the stock with a $105 price target.

The company has a one year high of $114.63 and a one year low of $62.12. Currently, BioMarin has an average volume of 1.37M.

Based on the recent corporate insider activity of 104 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 July 2016, George Eric Davis, the SVP & GC of BMRN bought 2,656 shares for a total of $102,495.

BioMarin Pharmaceutical, Inc. engages in the biopharmaceutical development and commercialization of innovative pharmaceuticals for serious diseases and medical conditions. Its company’s products include Naglazyme, Kuvan, Aldurazyme, Firdapse and VIMIZIM. The company was founded on March 21, 1997 and is headquartered in Novato, CA.