BioMarin Pharmaceutical’s (BMRN) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Friday, Benzinga reports. The firm currently has a $93.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also issued reports on BMRN. Evercore ISI increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. Piper Sandler raised their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an overweight rating in a report on Thursday, September 5th. Sanford C. Bernstein upgraded BioMarin Pharmaceutical from a market perform rating to an outperform rating and boosted their price objective for the company from $94.00 to $110.00 in a research report on Tuesday, August 20th. Barclays decreased their target price on BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Finally, TD Cowen cut their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating for the company in a report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of Moderate Buy and a consensus target price of $106.11.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $84.90 on Friday. 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 $73.68 and a 1 year high of $99.56. The firm’s 50-day moving average is $86.84 and its two-hundred day moving average is $84.82. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 79.35, a PEG ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate 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. As a group, research analysts expect that BioMarin Pharmaceutical will post 2.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of BMRN. Principal Securities Inc. acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $164,000. Dimensional Fund Advisors LP boosted its stake in shares of BioMarin Pharmaceutical by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,953 shares of the biotechnology company’s stock valued at $67,975,000 after purchasing an additional 71,853 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of BioMarin Pharmaceutical by 9.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 10,538 shares of the biotechnology company’s stock valued at $1,016,000 after purchasing an additional 917 shares during the period. Westpac Banking Corp grew its holdings in shares of BioMarin Pharmaceutical by 54.4% in the fourth quarter. Westpac Banking Corp now owns 2,087 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 735 shares in the last quarter. Finally, Inceptionr LLC purchased a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $266,000. 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.