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

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

BMRN has been the subject of a number of other research reports. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday. Robert W. Baird dropped their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.80.

BioMarin Pharmaceutical Stock Up 5.0 %

Shares of BMRN traded up $3.29 during mid-day trading on Thursday, reaching $68.90. 2,427,357 shares of the stock traded hands, 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 P/E/G ratio of 0.57 and a beta of 0.28. The stock has a fifty day simple moving average of $64.79 and a 200 day simple moving average of $71.06. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. 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 posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. Sell-side analysts expect that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of BioMarin Pharmaceutical by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after purchasing an additional 164 shares during the period. Fifth Third Bancorp increased its holdings in shares of BioMarin Pharmaceutical by 13.9% in the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after purchasing an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after purchasing an additional 173 shares during the period. Advisors Asset Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after buying an additional 180 shares in the last quarter. Finally, Freedom Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 3.8% in the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.