BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $81.00 Price Target at Citigroup

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective dropped by equities researchers at Citigroup from $93.00 to $81.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s target price suggests a potential upside of 20.12% from the company’s current price.

BMRN has been the subject of several other reports. William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Cantor Fitzgerald dropped their price objective on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays lowered their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Canaccord Genuity Group cut their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Trading Down 3.5 %

NASDAQ BMRN traded down $2.48 on Wednesday, reaching $67.43. The stock had a trading volume of 1,806,693 shares, compared to its average volume of 1,844,235. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $76.60 and a two-hundred day moving average price of $81.04. BioMarin Pharmaceutical has a 12-month low of $65.78 and a 12-month high of $99.56. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 62.91, a P/E/G ratio of 0.81 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same quarter last year, the firm earned $0.26 EPS. The company’s revenue was up 28.4% on a year-over-year basis. As a group, sell-side analysts forecast that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth about $25,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $31,000. Quent Capital LLC increased 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 buying an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $47,000. 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.