BioMarin Pharmaceutical (NASDAQ:BMRN) PT Lowered to $90.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price decreased by stock analysts at Sanford C. Bernstein from $116.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Sanford C. Bernstein’s price target suggests a potential upside of 26.51% from the stock’s previous close.

Several other research firms have also recently weighed in on BMRN. Evercore ISI lifted their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, August 6th. William Blair raised BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Friday, August 30th. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. TD Cowen dropped their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $93.00 price target on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Stock Up 0.8 %

NASDAQ BMRN opened at $71.14 on Tuesday. BioMarin Pharmaceutical has a 1 year low of $68.83 and a 1 year high of $99.56. The stock has a market capitalization of $13.51 billion, a PE ratio of 66.49, a PEG ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The business’s 50-day moving average is $86.11 and its 200 day moving average is $84.49.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 during the quarter, compared to analysts’ expectations of $660.51 million. Sell-side analysts forecast that BioMarin Pharmaceutical will post 2.4 earnings per share for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA increased its position in shares of BioMarin Pharmaceutical by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after purchasing an additional 76,190 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after acquiring an additional 67,046 shares during the last quarter. Capital Research Global Investors grew its position in shares of BioMarin Pharmaceutical by 79.0% during the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after acquiring an additional 4,756,671 shares during the period. Avoro Capital Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after acquiring an additional 192,416 shares during the period. Finally, Norges Bank bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $324,098,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.