BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $113.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target boosted by UBS Group from $109.00 to $113.00 in a report issued on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the biotechnology company’s stock.

Several other research firms have also commented on BMRN. Canaccord Genuity Group lowered their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $68.73 on Thursday. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The stock has a market cap of $13.10 billion, a P/E ratio of 41.16, a P/E/G ratio of 0.57 and a beta of 0.28. The stock’s 50 day simple moving average is $64.79 and its 200 day simple moving average is $71.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating 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%. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. As a group, equities analysts anticipate that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC raised its stake in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC increased its holdings in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.