BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $80.00 Price Target at Royal Bank of Canada

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price trimmed by Royal Bank of Canada from $85.00 to $80.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a sector perform rating on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on BMRN. Evercore ISI boosted their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, August 8th. Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a buy rating for the company in a research note on Tuesday, September 17th. Piper Sandler boosted their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an overweight rating in a report on Thursday, September 5th. Finally, Stifel Nicolaus cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a buy rating for the company in a research report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of Moderate Buy and an average price target of $97.32.

BioMarin Pharmaceutical Stock Up 2.0 %

BMRN traded up $1.35 during midday trading on Friday, reaching $69.51. The company’s stock had a trading volume of 1,325,615 shares, compared to its average volume of 1,894,302. BioMarin Pharmaceutical has a 1 year low of $67.75 and a 1 year high of $99.56. The stock’s 50-day moving average is $82.55 and its 200-day moving average is $83.20. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 64.96, a PEG ratio of 0.80 and a beta of 0.32. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The business had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. As a group, research analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of BMRN. Envestnet Portfolio Solutions Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Yousif Capital Management LLC increased its holdings in shares of BioMarin Pharmaceutical by 8.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after buying an additional 198 shares during the last quarter. Integrated Advisors Network LLC raised its position in shares of BioMarin Pharmaceutical by 6.2% during the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its position in BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 246 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.