Robert W. Baird Has Lowered Expectations for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lowered by Robert W. Baird from $72.00 to $65.00 in a research report released on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the biotechnology company’s stock.

A number of other research firms have also commented on BMRN. Scotiabank lowered their price objective on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research note on Tuesday, September 17th. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Evercore ISI raised their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company decreased their price target 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. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.45.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $66.60 on Wednesday. BioMarin Pharmaceutical has a 12-month low of $65.35 and a 12-month high of $99.56. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a PEG ratio of 0.77 and a beta of 0.31. The business has a 50 day moving average of $75.13 and a 200-day moving average of $80.59. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The business’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 earnings per share. On average, equities research analysts expect that BioMarin Pharmaceutical will post 2.39 earnings per share for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its holdings in BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after buying an additional 130 shares during the period. Quent Capital LLC grew its holdings in BioMarin Pharmaceutical by 58.9% during the second 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. Voisard Asset Management Group Inc. lifted its stake in BioMarin Pharmaceutical by 17.8% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after acquiring an additional 205 shares in the last quarter. Grandfield & Dodd LLC lifted its stake in BioMarin Pharmaceutical by 1.6% during the 1st quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock valued at $1,409,000 after acquiring an additional 255 shares in the last quarter. Finally, AIA Group Ltd lifted its stake in BioMarin Pharmaceutical by 7.0% during the 1st quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 266 shares in the last quarter. Institutional investors and hedge funds 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.