BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Receives $93.67 Consensus PT from Analysts

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has received a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $94.16.

Several equities analysts have recently issued reports on BMRN shares. Piper Sandler lifted their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Barclays dropped 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. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Bank of America dropped their target price on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Stifel Nicolaus decreased their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th.

BioMarin Pharmaceutical Stock Up 0.2 %

Shares of BMRN opened at $66.15 on Thursday. The company’s 50-day simple moving average is $73.68 and its 200-day simple moving average is $80.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The stock has a market capitalization of $12.61 billion, a PE ratio of 39.61, a P/E/G ratio of 0.66 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the prior year, the company posted $0.26 EPS. The firm’s revenue was up 28.4% compared to the same quarter last year. Analysts forecast that BioMarin Pharmaceutical will post 2.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $25,000. nVerses Capital LLC acquired a new stake in BioMarin Pharmaceutical in the third quarter valued at about $28,000. BOKF NA purchased a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $31,000. Quent Capital LLC increased its position in BioMarin Pharmaceutical by 58.9% during 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 during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $47,000. 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.