Citigroup Increases BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $82.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective hoisted by Citigroup from $81.00 to $82.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price target points to a potential upside of 20.15% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler increased their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.81.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of NASDAQ BMRN opened at $68.25 on Thursday. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a market cap of $13.01 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock’s 50 day simple moving average is $64.84 and its 200 day simple moving average is $71.05.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 10.10%. Equities research analysts expect that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its stake in BioMarin Pharmaceutical by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after buying an additional 164 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of BioMarin Pharmaceutical by 13.9% during the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of BioMarin Pharmaceutical by 0.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after purchasing an additional 180 shares during the period. Finally, Freedom Investment Management Inc. grew its position in BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock worth $330,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds 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.