BioMarin Gets a Buy Rating from Wedbush

By Carrie Williams

Wedbush analyst Liana Moussatos reiterated a Buy rating on BioMarin (NASDAQ: BMRN) today and set a price target of $110. The company’s shares opened today at $85.46.

According to TipRanks.com, Moussatos is a 4-star analyst with an average return of 10.1% and a 42.5% success rate. Moussatos covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Allena Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on BioMarin is Strong Buy and the average price target is $120.45, representing a 40.9% upside.

In a report issued on March 2, Credit Suisse also maintained a Buy rating on the stock with a $116 price target.

Based on BioMarin’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $364 million and GAAP net loss of $51.39 million. In comparison, last year the company earned revenue of $300 million and had a GAAP net loss of $90.72 million.

Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is neutral on the stock.

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BioMarin Pharmaceutical, Inc. is a biotechnology company that develops and commercializes innovative pharmaceuticals for serious diseases and medical conditions. Its products include Naglazyme, Kuvan, Aldurazyme, Firdapse and VIMIZIM. The company was founded by Christopher M. Starr and Grant W.