Barclays Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $86.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target cut by analysts at Barclays from $110.00 to $86.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective suggests a potential upside of 26.16% from the stock’s previous close.

A number of other brokerages also recently issued reports on BMRN. Royal Bank of Canada reduced their price target on BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. TD Cowen dropped their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein cut 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. William Blair upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. Finally, Bank of America dropped their target price on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Seven investment 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.58.

BioMarin Pharmaceutical Trading Up 0.0 %

Shares of NASDAQ:BMRN traded up $0.01 during trading on Friday, reaching $68.17. 136,267 shares of the company traded hands, compared to its average volume of 1,888,107. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52-week low of $67.75 and a 52-week high of $99.56. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 63.76, a P/E/G ratio of 0.80 and a beta of 0.32. The business’s fifty day moving average is $82.85 and its 200-day moving average is $83.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 analysts’ expectations of $660.51 million. As a group, analysts forecast that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth $25,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $31,000. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $43,000. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical during the second quarter valued at about $47,000. 98.71% of the stock is currently owned by institutional investors.

About BioMarin Pharmaceutical

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.