BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $103.00 at Bank of America

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target upped by stock analysts at Bank of America from $99.00 to $103.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price objective suggests a potential upside of 56.99% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Citigroup cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lowered their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 target price on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird dropped their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.60.

BioMarin Pharmaceutical Stock Up 1.2 %

BioMarin Pharmaceutical stock opened at $65.61 on Thursday. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The stock has a market cap of $12.50 billion, a P/E ratio of 39.29, a P/E/G ratio of 0.57 and a beta of 0.28. The company’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $71.06. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) 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%. As a group, analysts expect that BioMarin Pharmaceutical will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after acquiring an additional 164 shares during the last quarter. Fifth Third Bancorp increased its holdings in BioMarin Pharmaceutical by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after purchasing an additional 165 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after buying an additional 173 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after buying an additional 180 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its position in shares of BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock worth $330,000 after buying an additional 184 shares during the period. 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.