Piper Sandler Raises BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $126.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective upped by research analysts at Piper Sandler from $122.00 to $126.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target would indicate a potential upside of 92.04% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average target price of $93.80.

BioMarin Pharmaceutical Trading Up 1.2 %

Shares of BMRN 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 company 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 has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $64.79 and its 200-day simple moving average is $71.06.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. 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 have recently bought and sold shares of BMRN. Merit Financial Group LLC acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $317,000. Assenagon Asset Management S.A. increased its stake in shares of BioMarin Pharmaceutical by 461.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock worth $40,205,000 after acquiring an additional 502,695 shares during the period. Wedmont Private Capital acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth $430,000. Swedbank AB boosted its holdings in BioMarin Pharmaceutical by 11.2% during the fourth quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after buying an additional 43,593 shares in the last quarter. Finally, EULAV Asset Management boosted its holdings in BioMarin Pharmaceutical by 12.9% during the third quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after buying an additional 15,000 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.