UBS Group Issues Positive Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price hoisted by UBS Group from $104.00 to $106.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on the company. Piper Sandler increased their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Robert W. Baird lowered their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Scotiabank cut their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. TD Cowen reduced their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America dropped their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.45.

BioMarin Pharmaceutical Trading Up 1.1 %

NASDAQ:BMRN opened at $66.60 on Wednesday. The company’s 50 day moving average is $75.13 and its 200-day moving average is $80.59. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12 month low of $65.35 and a 12 month high of $99.56. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 0.77 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the business earned $0.26 EPS. The business’s revenue was up 28.4% compared to the same quarter last year. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.39 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently bought and sold shares of BMRN. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. BOKF NA acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $31,000. Quent Capital LLC lifted its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in BioMarin Pharmaceutical in the second quarter valued at about $47,000. 98.71% of the stock is currently owned by institutional investors.

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.