BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $82.00 Price Target at Citigroup

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price upped by analysts at Citigroup from $81.00 to $82.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective would indicate a potential upside of 19.01% from the stock’s current price.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. cut their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. UBS Group upped their price target on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Piper Sandler upped their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.80.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded up $3.29 during trading hours on Thursday, reaching $68.90. 2,427,357 shares of the company were exchanged, compared to its average volume of 1,534,415. The firm has a market cap of $13.13 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 0.57 and a beta of 0.28. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $64.79 and a 200 day moving average of $71.06. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. As a group, research analysts anticipate that BioMarin Pharmaceutical will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. Norges Bank bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $234,645,000. Capital Research Global Investors boosted its holdings in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after buying an additional 2,496,817 shares during the last quarter. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical during the fourth quarter worth about $65,822,000. Dodge & Cox boosted its holdings in BioMarin Pharmaceutical by 6.1% during the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after buying an additional 847,917 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of BioMarin Pharmaceutical during the third quarter worth about $48,527,000. Institutional investors 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.