BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Lowered to $87.00 at Stifel Nicolaus

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target trimmed by Stifel Nicolaus from $115.00 to $87.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a sector perform rating in a report on Thursday, September 5th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. Royal Bank of Canada restated a sector perform rating and set a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a report on Thursday, September 5th. Finally, Bank of America cut their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a buy rating on the stock in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $99.90.

BioMarin Pharmaceutical Stock Up 1.0 %

NASDAQ:BMRN opened at $70.55 on Tuesday. The firm has a market cap of $13.40 billion, a PE ratio of 65.93, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The company has a 50-day moving average of $86.33 and a 200 day moving average of $84.59. BioMarin Pharmaceutical has a 1-year low of $68.83 and a 1-year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The business had revenue of $712.03 million during 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%. As a group, research analysts anticipate that BioMarin Pharmaceutical will post 2.4 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $31,000. Quent Capital LLC boosted its position in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter worth approximately $47,000. Hedge funds and other institutional investors 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.