BioMarin Pharmaceutical (NASDAQ:BMRN) PT Lowered to $78.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price decreased by Scotiabank from $95.00 to $78.00 in a report released on Tuesday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on BMRN. Truist Financial cut their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a buy rating for the company in a report on Tuesday. StockNews.com raised BioMarin Pharmaceutical from a hold rating to a buy rating in a research note on Thursday, August 8th. TD Cowen lowered their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an overweight rating and set a $110.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, September 9th. Finally, Royal Bank of Canada decreased their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a sector perform rating for the company in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of Moderate Buy and a consensus target price of $98.84.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $70.69 on Tuesday. The business’s 50-day moving average is $85.57 and its 200-day moving average is $84.29. 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 market capitalization of $13.42 billion, a price-to-earnings ratio of 66.07, a P/E/G ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical has a fifty-two week low of $68.83 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. Equities research analysts expect that BioMarin Pharmaceutical will post 2.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter valued at $31,000. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Jones Financial Companies Lllp acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth $43,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the 2nd quarter worth $47,000. 98.71% of the stock is owned by institutional investors.

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.