BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $87.00 Price Target at Stifel Nicolaus

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lowered by Stifel Nicolaus from $115.00 to $87.00 in a research note published on Tuesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. StockNews.com raised shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. Wells Fargo & Company raised their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a report on Thursday, June 27th. Scotiabank raised their target price on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a sector perform rating in a report on Thursday, September 5th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating for the company in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a report on Thursday, September 5th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $99.90.

BioMarin Pharmaceutical Trading Up 1.0 %

Shares of BMRN opened at $70.55 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a 1 year low of $68.83 and a 1 year high of $99.56. The company has a 50 day simple moving average of $86.33 and a two-hundred day simple moving average of $84.59. The firm has a market cap of $13.40 billion, a P/E ratio of 65.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. On average, equities analysts expect that BioMarin Pharmaceutical will post 2.4 earnings per share for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently made changes to their positions in the stock. AMI Asset Management Corp boosted its stake in shares of BioMarin Pharmaceutical by 51.9% during the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after purchasing an additional 118,230 shares during the period. AGF Management Ltd. purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $2,563,000. Fisher Asset Management LLC purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $1,301,000. APG Asset Management US Inc. purchased a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $3,462,000. Finally, Bridgewater Associates LP lifted its stake in BioMarin Pharmaceutical by 18.3% in the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock worth $18,413,000 after acquiring an additional 29,576 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

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.