Credit Suisse Sticks to Their Buy Rating for BioMarin

By Jason Carr

In a report released yesterday, Kennen MacKay from Credit Suisse maintained a Buy rating on BioMarin (NASDAQ: BMRN), with a price target of $116. The company’s shares closed yesterday at $95.84.

According to TipRanks.com, MacKay is a 5-star analyst with an average return of 19.2% and a 66.0% success rate. MacKay covers the Healthcare sector, focusing on stocks such as Five Prime Therapeutics, Akebia Therapeutics, and Puma Biotechnology.

Currently, the analyst consensus on BioMarin is Strong Buy and the average price target is $116.89, representing a 22.0% upside.

In a report issued on April 13, Cowen & Co. also reiterated a Buy rating on the stock with a $150 price target.

The company has a one year high of $102.49 and a one year low of $73.45. Currently, BioMarin has an average volume of 1.11M.

Based on the recent corporate insider activity of 114 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. Earlier this month, Jean Jacques Bienaime, the CEO of BMRN bought 3,000 shares for a total of $43,170.

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. 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.