BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $75.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price upped by Wells Fargo & Company from $70.00 to $75.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of a number of other reports. Tudor Pickering set a $88.00 price objective on BioMarin Pharmaceutical in a research note on Monday, November 3rd. Leerink Partners lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Sanford C. Bernstein decreased their price target on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research report on Monday, December 29th. Finally, Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Fifteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $64.08 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. BioMarin Pharmaceutical has a 52-week low of $50.76 and a 52-week high of $73.51. The company has a fifty day moving average of $58.09 and a 200-day moving average of $56.09. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 0.69 and a beta of 0.26.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $26,000. Quent Capital LLC purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter worth $28,000. CIBC Private Wealth Group LLC grew its holdings in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares in the last quarter. Smartleaf Asset Management LLC increased its position in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth about $40,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.