Cantor Fitzgerald Reiterates “Overweight” Rating for BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They presently have a $90.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 31.87% from the company’s current price.

Several other analysts have also recently issued reports on BMRN. Robert W. Baird dropped their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Citigroup dropped their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Wolfe Research initiated coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Stock Down 0.7 %

NASDAQ BMRN opened at $68.25 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The business has a fifty day moving average price of $64.84 and a 200 day moving average price of $71.05. The company has a market cap of $13.01 billion, a P/E ratio of 31.02, a P/E/G ratio of 0.58 and a beta of 0.28. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85.

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. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. Research analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its position in BioMarin Pharmaceutical by 203.4% in the 4th quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock valued at $14,504,000 after purchasing an additional 147,927 shares in the last quarter. Forum Financial Management LP acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $298,000. Toronto Dominion Bank raised its position in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock valued at $1,634,000 after purchasing an additional 920 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in BioMarin Pharmaceutical in the 4th quarter valued at about $263,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in BioMarin Pharmaceutical by 19.8% in the 4th 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 valued at $69,351,000 after purchasing an additional 174,634 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.