BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $103.00 Price Target at Bank of America

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target lifted by analysts at Bank of America from $99.00 to $103.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price objective would indicate a potential upside of 56.99% from the stock’s previous close.

BMRN has been the topic of a number of other reports. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and an average price target of $93.60.

BioMarin Pharmaceutical Trading Up 1.2 %

BMRN opened at $65.61 on Thursday. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The firm has a market capitalization of $12.50 billion, a PE ratio of 39.29, a P/E/G ratio of 0.57 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company’s 50-day moving average is $64.79 and its 200 day moving average is $71.06.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. As a group, research analysts predict that BioMarin Pharmaceutical will post 2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock worth $1,273,334,000 after buying an additional 93,531 shares in the last quarter. Primecap Management Co. CA increased its position in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock worth $1,326,192,000 after purchasing an additional 77,350 shares during the last quarter. Dodge & Cox increased its position in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after purchasing an additional 847,917 shares during the last quarter. Capital Research Global Investors raised its stake in BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after purchasing an additional 2,496,817 shares in the last quarter. Finally, Norges Bank bought a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $234,645,000. Hedge funds and other 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.