BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $113.00 at UBS Group

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective increased by UBS Group from $109.00 to $113.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Canaccord Genuity Group cut their price objective on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird decreased 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. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $68.73 on Thursday. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 month high of $94.85. The business’s 50-day moving average is $64.79 and its 200 day moving average is $71.06. The company has a market capitalization of $13.10 billion, a P/E ratio of 41.16, a P/E/G ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million during 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%. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 2.5 earnings per share for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC lifted its position in BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares during the period. TD Private Client Wealth LLC raised its stake in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $36,000. CIBC Private Wealth Group LLC boosted its stake in shares of BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 shares during the period. Hedge funds and other institutional investors 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.