BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Lowered to $80.00 at Royal Bank of Canada

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective cut by Royal Bank of Canada from $85.00 to $80.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a sector perform rating on the biotechnology company’s stock.

A number of other equities research analysts have also weighed in on the company. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an overweight rating in a research report on Thursday, September 5th. Truist Financial reduced their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a buy rating for the company in a report on Tuesday, September 17th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, August 8th. Bank of America lowered their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a buy rating for the company in a report on Tuesday, September 17th. Finally, Stifel Nicolaus cut their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a buy rating on the stock in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $97.32.

BioMarin Pharmaceutical Trading Up 2.0 %

Shares of BMRN stock traded up $1.35 on Friday, reaching $69.51. 1,325,615 shares of the company’s stock were exchanged, compared to its average volume of 1,894,302. The company’s fifty day simple moving average is $82.55 and its 200 day simple moving average is $83.20. BioMarin Pharmaceutical has a 52 week low of $67.75 and a 52 week high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $13.20 billion, a PE ratio of 64.96, a P/E/G ratio of 0.80 and a beta of 0.32.

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 business had revenue of $712.03 million during the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. As a group, analysts forecast that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of BMRN. Innealta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth $25,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth about $31,000. Quent Capital LLC raised 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 during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at about $43,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $47,000. 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.