BioMarin Pharmaceutical’s (BMRN) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Thursday,Benzinga reports. The firm currently has a $70.00 price target on the biotechnology company’s stock.

A number of other research firms have also recently commented on BMRN. JPMorgan Chase & Co. cut their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Citigroup cut their target price on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday. Canaccord Genuity Group lowered their price target on BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, Wedbush upgraded BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Stock Up 4.8 %

Shares of NASDAQ:BMRN opened at $68.73 on Thursday. 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 has a fifty day simple moving average of $64.79 and a two-hundred day simple moving average of $71.06. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The stock has a market capitalization of $13.10 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. On average, research analysts anticipate that BioMarin Pharmaceutical will post 2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently modified their holdings of the business. LRI Investments LLC lifted its position in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $36,000. CIBC Private Wealth Group LLC grew its stake in shares of BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares during the period. Finally, Meeder Asset Management Inc. increased its holdings in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

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.