BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $97.32 Consensus PT from Analysts

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been assigned an average rating of “Moderate Buy” from the twenty-two ratings firms that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $96.40.

A number of equities analysts recently weighed in on the stock. TD Cowen lowered their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Truist Financial dropped their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Bank of America decreased their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Finally, Wells Fargo & Company lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $70.35 on Friday. BioMarin Pharmaceutical has a 52 week low of $67.75 and a 52 week high of $99.56. The stock’s fifty day moving average is $81.07 and its two-hundred day moving average is $82.62. The company has a market capitalization of $13.36 billion, a P/E ratio of 52.89, a P/E/G ratio of 0.81 and a beta of 0.31. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Equities analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. BOKF NA purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $31,000. Quent Capital LLC increased its position in shares of BioMarin Pharmaceutical by 58.9% during the second 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. Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $47,000. Finally, GAMMA Investing LLC boosted its position in shares of BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 281 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.