BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $106.00 at UBS Group

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective hoisted by UBS Group from $104.00 to $106.00 in a report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

BMRN has been the subject of several other research reports. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday. TD Cowen lowered 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. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Finally, Royal Bank of Canada decreased their price target on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $66.68 on Wednesday. The company has a market cap of $12.66 billion, a PE ratio of 62.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $76.08 and a two-hundred day moving average price of $80.94. BioMarin Pharmaceutical has a 12-month low of $65.78 and a 12-month high of $99.56.

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

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical during the 2nd quarter worth $25,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical in the second quarter worth about $31,000. Quent Capital LLC grew its position 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 in the last quarter. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $28,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $47,000. 98.71% of the stock is owned by institutional investors.

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.