BioMarin Pharmaceutical (NASDAQ:BMRN) Hits New 12-Month Low at $68.73

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) reached a new 52-week low on Tuesday . The stock traded as low as $68.73 and last traded at $68.78, with a volume of 145587 shares. The stock had previously closed at $69.13.

Analyst Ratings Changes

BMRN has been the topic of a number of research analyst reports. Scotiabank lowered their price objective on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Sanford C. Bernstein lowered their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Evercore ISI increased their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Wells Fargo & Company lowered their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Finally, Stifel Nicolaus reduced their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.84.

BioMarin Pharmaceutical Stock Performance

The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $12.96 billion, a P/E ratio of 64.61, a PEG ratio of 1.03 and a beta of 0.32. The firm has a fifty day moving average of $85.26 and a 200-day moving average of $84.14.

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. The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Research analysts predict that BioMarin Pharmaceutical Inc. will post 2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors have recently bought and sold shares of the company. AMI Asset Management Corp grew its holdings in shares of BioMarin Pharmaceutical by 51.9% in the 1st quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company’s stock valued at $30,236,000 after acquiring an additional 118,230 shares in the last quarter. AGF Management Ltd. bought a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $2,563,000. Fisher Asset Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $1,301,000. APG Asset Management US Inc. bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $3,462,000. Finally, Bridgewater Associates LP boosted its holdings in shares of BioMarin Pharmaceutical by 18.3% in the 4th quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company’s stock valued at $18,413,000 after buying an additional 29,576 shares during the last quarter. 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.