BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Lowered to $90.00 at Sanford C. Bernstein

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective trimmed by Sanford C. Bernstein from $116.00 to $90.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, June 27th. Truist Financial dropped their price target on shares of BioMarin Pharmaceutical from $140.00 to $118.00 and set a buy rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday, September 5th. Scotiabank increased their target price on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a sector perform rating in a research report on Thursday, September 5th. Finally, Evercore ISI increased their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an outperform rating in a report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of Moderate Buy and a consensus price target of $98.84.

BioMarin Pharmaceutical Stock Down 1.0 %

NASDAQ:BMRN opened at $70.69 on Tuesday. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 66.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32. The stock has a fifty day simple moving average of $85.57 and a 200-day simple moving average of $84.29. BioMarin Pharmaceutical has a twelve month low of $68.83 and a twelve month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

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

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Envestnet Portfolio Solutions Inc. increased its holdings in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 145 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after buying an additional 198 shares during the period. Integrated Advisors Network LLC lifted its stake in BioMarin Pharmaceutical by 6.2% during the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its position in shares of BioMarin Pharmaceutical by 10.9% during the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 246 shares during the period. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.