BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report sent to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $110.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also commented on the company. Truist Financial lowered their price target on BioMarin Pharmaceutical from $140.00 to $118.00 and set a buy rating for the company in a research report on Thursday, September 5th. Robert W. Baird lowered BioMarin Pharmaceutical from an outperform rating to a neutral rating and lowered their price target for the company from $104.00 to $72.00 in a research report on Friday, May 17th. Piper Sandler raised their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an overweight rating in a research report on Thursday, September 5th. Evercore ISI raised their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. Finally, Sanford C. Bernstein raised BioMarin Pharmaceutical from a market perform rating to an outperform rating and raised their target price for the company from $94.00 to $110.00 in a research report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $106.10.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $84.38 on Monday. BioMarin Pharmaceutical has a 12-month low of $73.68 and a 12-month high of $99.56. The business’s fifty day moving average is $86.77 and its 200 day moving average is $84.92. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $16.02 billion, a P/E ratio of 78.86, a P/E/G ratio of 1.02 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. The business had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. Sell-side analysts anticipate that BioMarin Pharmaceutical will post 2.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BMRN. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth about $25,000. BOKF NA bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at about $31,000. Quent Capital LLC boosted its position in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $43,000. 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.