BioMarin Pharmaceutical (BMRN) is Reiterated by Piper Jaffray to Overweight, Raises Price Target to $ 120

BioMarin Pharmaceutical (BMRN) was Reiterated by Piper Jaffray to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 120 from a previous price target of $107 . Piper Jaffray advised their investors in a research report released on Aug 5, 2016.

Many Wall Street Analysts have commented on BioMarin Pharmaceutical. Company shares were Reiterated by Stifel on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 113 from a previous price target of $107 .

On the company’s financial health, BioMarin Pharmaceutical reported $-2.61 EPS for the quarter, missing the analyst consensus estimate by $ -2.52 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.09. The company had revenue of $300.10 million for the quarter, compared to analysts expectations of $279.05 million. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.51 EPS.

BioMarin Pharmaceutical closed down -1.84 points or -1.81% at $99.62 with 14,58,037 shares getting traded on Thursday. Post opening the session at $102.41, the shares hit an intraday low of $99.14 and an intraday high of $102.49 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Aug 3, 2016, Daniel K Spiegelman (EVP, Chief Financial Officer) sold 4,000 shares at $99.33 per share price. According to the SEC, on Aug 3, 2016, George Eric Davis (EVP, General Counsel) sold 2,167 shares at $100.00 per share price. On Aug 3, 2016, Brian Mueller (VP, Corporate Controller) sold 287 shares at $100.00 per share price, according to the Form-4 filing with the securities and exchange commission.

BioMarin Pharmaceutical Inc. develops and commercializes pharmaceuticals for serious diseases and medical conditions. The Company’s product portfolio is comprised of five approved products and multiple clinical and pre-clinical product candidates. Its approved products are Vimizim (elosulfase alpha) Naglazyme (galsulfase) Kuvan (sapropterin dihydrochloride) Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). Vimizim received marketing approval in the United States the European Union and subsequently in several other countries. Naglazyme received marketing approval in the United States the European Union and subsequently in other countries. Kuvan was granted marketing approval in the United States the European Union. Aldurazyme which was developed in collaboration with Genzyme Corporation (Genzyme) was approved for marketing in the United States the European Union and subsequently in other countries. Firdapse was approved by the European Medicines Agency (EMA).

BioMarin Pharmaceutical

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