BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $95.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective raised by Scotiabank from $86.00 to $95.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a sector perform rating on the biotechnology company’s stock.

BMRN has been the subject of several other research reports. Piper Sandler raised their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an overweight rating in a research note on Thursday. TD Cowen dropped their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. Baird R W cut shares of BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a report on Friday, May 17th. Truist Financial decreased their price target on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a buy rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein raised shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and increased their price objective for the stock from $94.00 to $110.00 in a research report on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of Moderate Buy and a consensus price target of $106.10.

BioMarin Pharmaceutical Stock Down 1.2 %

Shares of NASDAQ BMRN opened at $84.08 on Thursday. The company’s 50 day moving average price is $86.53 and its 200-day moving average price is $85.04. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical has a 52-week low of $73.68 and a 52-week high of $99.56. The company has a market capitalization of $15.97 billion, a P/E ratio of 78.58 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 (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The business had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. Equities analysts forecast that BioMarin Pharmaceutical will post 2.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMRN. Capital Research Global Investors boosted its holdings in BioMarin Pharmaceutical by 79.0% in the 4th quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock worth $1,038,907,000 after buying an additional 4,756,671 shares during the period. Norges Bank purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at $324,098,000. Principal Financial Group Inc. raised its stake in shares of BioMarin Pharmaceutical by 1,858.6% during the 2nd quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares during the period. Avoro Capital Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 11.7% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock worth $414,606,000 after purchasing an additional 450,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in BioMarin Pharmaceutical by 33.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock worth $154,850,000 after purchasing an additional 401,152 shares during the period. 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.