Scotiabank Issues Positive Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective upped by investment analysts at Scotiabank from $78.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the biotechnology company’s stock. Scotiabank’s price objective points to a potential upside of 17.22% from the stock’s current price.

Several other research firms also recently issued reports on BMRN. Wolfe Research started coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective on the stock. Robert W. Baird cut their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Canaccord Genuity Group decreased their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. UBS Group upped their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday. Finally, William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Trading Down 0.7 %

NASDAQ BMRN opened at $68.25 on Thursday. The company’s fifty day simple moving average is $64.84 and its 200-day simple moving average is $71.05. The stock has a market cap of $13.01 billion, a P/E ratio of 31.02, a PEG ratio of 0.58 and a beta of 0.28. BioMarin Pharmaceutical has a 52 week low of $60.63 and a 52 week high of $94.85. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 10.10%. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. Equities research analysts predict that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMRN. Merit Financial Group LLC bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $317,000. Assenagon Asset Management S.A. increased its position in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after acquiring an additional 502,695 shares during the period. Wedmont Private Capital bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $430,000. Swedbank AB boosted its position in BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after acquiring an additional 43,593 shares during the period. Finally, EULAV Asset Management grew its stake in shares of BioMarin Pharmaceutical by 12.9% in the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after purchasing an additional 15,000 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.