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

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $110.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 29.64% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Robert W. Baird cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $104.00 to $72.00 in a research note on Friday, May 17th. Stifel Nicolaus boosted their target price on shares of BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Canaccord Genuity Group reiterated a “hold” rating and issued a $89.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, July 25th. Finally, Baird R W cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 17th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $106.10.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $84.85 on Monday. The company has a market cap of $16.11 billion, a P/E ratio of 79.30, a PEG ratio of 1.02 and a beta of 0.31. BioMarin Pharmaceutical has a 52-week low of $73.68 and a 52-week high of $99.56. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average price is $86.62 and its 200-day moving average price is $84.93.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, sell-side analysts predict that BioMarin Pharmaceutical will post 2.4 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC raised its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares in the last quarter. Yousif Capital Management LLC raised its holdings in BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after acquiring an additional 198 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in BioMarin Pharmaceutical by 6.2% in the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.