BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Cut to $65.00 by Analysts at Robert W. Baird

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective cut by Robert W. Baird from $72.00 to $65.00 in a research note published on Wednesday, Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Truist Financial cut their price target on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada cut their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

BioMarin Pharmaceutical Trading Down 4.6 %

BMRN opened at $66.68 on Wednesday. The stock has a market capitalization of $12.66 billion, a P/E ratio of 62.32, a P/E/G ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical has a 12 month low of $65.78 and a 12 month high of $99.56. The firm’s fifty day simple moving average is $76.08 and its 200 day simple moving average is $80.94. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BMRN. Innealta Capital LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $25,000. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $28,000. BOKF NA acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $31,000. Quent Capital LLC grew its stake 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 during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.