BioMarin Pharmaceutical’s (BMRN) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a $90.00 price target on the biotechnology company’s stock.

Several other research analysts have also weighed in on BMRN. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Evercore ISI reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler lifted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reduced their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $93.81.

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of NASDAQ BMRN opened at $68.25 on Thursday. The firm has a market capitalization of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85. The firm’s 50-day moving average is $64.88 and its 200-day moving average is $70.96.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities analysts expect that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp increased its holdings in BioMarin Pharmaceutical by 203.4% during the fourth quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock worth $14,504,000 after buying an additional 147,927 shares during the last quarter. Forum Financial Management LP acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $298,000. Toronto Dominion Bank increased its holdings in BioMarin Pharmaceutical by 3.8% during the fourth quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock worth $1,634,000 after buying an additional 920 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth $263,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in BioMarin Pharmaceutical by 19.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock worth $69,351,000 after purchasing an additional 174,634 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.