BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $126.00 Price Target at Piper Sandler

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lifted by Piper Sandler from $122.00 to $126.00 in a report issued on Thursday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Bank of America raised their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday. Finally, StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.81.

BioMarin Pharmaceutical Stock Up 4.8 %

Shares of NASDAQ:BMRN opened at $68.73 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market cap of $13.10 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical has a 52 week low of $60.63 and a 52 week high of $94.85. The firm has a 50 day simple moving average of $64.79 and a 200 day simple moving average of $71.06.

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 analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. As a group, research analysts expect that BioMarin Pharmaceutical will post 2.5 earnings per share for the current year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Merit Financial Group LLC acquired a new stake in BioMarin Pharmaceutical in the 4th quarter worth $317,000. Assenagon Asset Management S.A. lifted its holdings in shares of BioMarin Pharmaceutical by 461.3% during the 4th 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 bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth about $430,000. Swedbank AB lifted its holdings in shares of BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after acquiring an additional 43,593 shares during the period. Finally, EULAV Asset Management lifted its holdings in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock worth $9,208,000 after acquiring an additional 15,000 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.