BioMarin Pharmaceutical (NASDAQ:BMRN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note published on Monday morning, Benzinga reports. They currently have a $110.00 price objective on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the company. Scotiabank raised their target price on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a sector perform rating in a research report on Thursday, September 5th. TD Cowen reduced their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Stifel Nicolaus increased their price objective on shares of BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company a buy rating in a report on Wednesday, August 21st. Finally, Canaccord Genuity Group restated a hold rating and set a $89.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and a consensus target price of $106.10.

BioMarin Pharmaceutical Trading Down 0.1 %

Shares of NASDAQ:BMRN opened at $84.78 on Monday. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 79.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.31. The business’s 50 day moving average price is $86.70 and its 200-day moving average price is $84.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a 1 year low of $73.68 and a 1 year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The business had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares during the period. Quent Capital LLC grew its stake in shares of BioMarin Pharmaceutical by 58.9% in the second 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. Yousif Capital Management LLC raised its holdings in shares of BioMarin Pharmaceutical by 8.9% in the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 198 shares during the period. Integrated Advisors Network LLC lifted its stake in BioMarin Pharmaceutical by 6.2% during the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its stake in BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 246 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.