Schaeffer's Trading Floor Blog

Analyst Initiations: BMRN, FB, and MDVN

Analysts handed out new ratings on BioMarin Pharmaceutical, Facebook, and Medivation

by 6/29/2012 9:27 AM
Stocks quoted in this article:

Analysts are weighing in today on drug company BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - 37.66), social networking site Facebook, Inc. (NASDAQ:FB - 31.36), and biotech stock Medivation, Inc. (NASDAQ:MDVN - 86.40). Here's a quick roundup of today's newest brokerage ratings.

  • ThinkEquity started coverage of BMRN with a "buy" rating and $44 price target, with the brokerage firm looking for 16.8% upside from Thursday's close at $37.66. Most analysts are already big fans of BMRN, as the shares have racked up 12 "buys" out of 15 total ratings. The stock is up 9.5% in 2012, but BMRN has struggled in the $39 area. Today's bullish note has the equity up 1.6% ahead of the bell, on pace to open fractionally below this technical hurdle.

  • Macquarie initiated FB with a "neutral" rating and $34 price target, representing a relatively rare lukewarm opinion on the stock. In its short life span on Wall Street, FB has scored seven "buy" or better ratings, compared to just four "hold" or "sell" recommendations. Shares of the tech concern closed Thursday below their 10-day moving average for the first time since June 11, but FB has tacked on 1.9% in electronic trading.

  • MDVN also attracted the attention of ThinkEquity this morning, with the brokerage firm doling out a "buy" rating and $110 price target. It's a fairly lofty forecast for MDVN; the shares settled yesterday at $86.40, and their current all-time high is $90.40. However, the stock has rocketed more than 300% higher over the past 52 weeks, so ThinkEquity simply seems to be betting on a continuation of this positive momentum. MDVN is set to rise 1.3% at the open.


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