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

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

Several other research firms have also recently weighed in on BMRN. Evercore ISI increased their price objective on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday, August 6th. Royal Bank of Canada reiterated a sector perform rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, September 5th. Canaccord Genuity Group reiterated a hold rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Truist Financial dropped their price objective on BioMarin Pharmaceutical from $140.00 to $118.00 and set a buy rating for the company in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of Moderate Buy and an average target price of $98.84.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $71.41 on Tuesday. 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 firm has a market capitalization of $13.56 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The business’s 50-day moving average price is $85.86 and its 200-day moving average price is $84.40. BioMarin Pharmaceutical has a 12 month low of $68.83 and a 12 month high of $99.56.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMRN. Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $25,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $31,000. Quent Capital LLC increased its holdings in shares of 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 bought a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth $43,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.