BioMarin Pharmaceutical’s (BMRN) “Hold” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Friday, Benzinga reports. The firm currently has a $93.00 price target on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on BMRN. Evercore ISI raised their price objective on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a research note on Tuesday, August 6th. Baird R W downgraded shares of BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a report on Friday, May 17th. JPMorgan Chase & Co. upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a research report on Thursday, September 5th. Scotiabank lifted their target price on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a sector perform rating in a research report on Thursday, September 5th. Finally, TD Cowen cut their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating for the company in a report on Tuesday, August 6th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $106.11.

BioMarin Pharmaceutical Stock Down 17.7 %

Shares of BMRN stock opened at $69.86 on Friday. The stock’s 50 day simple moving average is $86.58 and its 200 day simple moving average is $84.71. BioMarin Pharmaceutical has a twelve month low of $69.60 and a twelve month high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The company has a market capitalization of $13.27 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. As a group, research analysts predict that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BMRN. Envestnet Portfolio Solutions Inc. raised its position in BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC lifted 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 buying an additional 145 shares in the last quarter. Yousif Capital Management LLC grew its holdings in BioMarin Pharmaceutical by 8.9% during the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 198 shares during the last quarter. Integrated Advisors Network LLC increased its position in BioMarin Pharmaceutical by 6.2% in the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 10.9% in the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 246 shares during the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.