Brokerages Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Target Price at $90.04

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has earned an average recommendation of “Moderate Buy” from the twenty-five research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $90.0417.

BMRN has been the topic of a number of research reports. Stifel Nicolaus restated a “hold” rating and issued a $61.00 price target (down from $73.00) on shares of BioMarin Pharmaceutical in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Wall Street Zen downgraded BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 29th. Finally, Tudor Pickering set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research report on Monday, November 3rd.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of BMRN. V Square Quantitative Management LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $25,000. Quent Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at $40,000. Finally, Parallel Advisors LLC increased its holdings in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN opened at $56.68 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The stock has a market cap of $10.89 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 0.62 and a beta of 0.27. The business has a 50 day simple moving average of $56.38 and a 200 day simple moving average of $55.97. BioMarin Pharmaceutical has a 52-week low of $50.76 and a 52-week high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The company had revenue of $776.13 million during the quarter, compared to analyst estimates of $782.42 million. During the same quarter last year, the company earned $0.91 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts anticipate that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

About BioMarin Pharmaceutical

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.