BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $95.00 Price Target at Scotiabank

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price raised by Scotiabank from $86.00 to $95.00 in a report published on Thursday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on BMRN. Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and lifted their target price for the company from $94.00 to $110.00 in a research report on Tuesday, August 20th. Piper Sandler upped their target price on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an overweight rating in a research report on Thursday. Truist Financial reduced their target price on BioMarin Pharmaceutical from $140.00 to $118.00 and set a buy rating on the stock in a research note on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research note on Monday, August 5th. Finally, Baird R W cut BioMarin Pharmaceutical from a strong-buy rating to a hold rating in a report on Friday, May 17th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of Moderate Buy and a consensus target price of $106.10.

BioMarin Pharmaceutical Trading Down 1.2 %

BioMarin Pharmaceutical stock opened at $84.08 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The stock has a market cap of $15.97 billion, a P/E ratio of 78.58 and a beta of 0.32. The firm’s fifty day moving average price is $86.53 and its 200-day moving average price is $85.04.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results 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. The business had revenue of $712.03 million for 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%. Equities research analysts forecast that BioMarin Pharmaceutical will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $1,783,000. Teachers Retirement System of The State of Kentucky raised its holdings in shares of BioMarin Pharmaceutical by 17.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after acquiring an additional 28,837 shares in the last quarter. Novo Holdings A S lifted its stake in BioMarin Pharmaceutical by 8.9% in the second quarter. Novo Holdings A S now owns 490,000 shares of the biotechnology company’s stock worth $40,342,000 after acquiring an additional 40,000 shares during the period. NewEdge Advisors LLC lifted its stake in BioMarin Pharmaceutical by 3,931.5% in the second quarter. NewEdge Advisors LLC now owns 10,885 shares of the biotechnology company’s stock worth $896,000 after acquiring an additional 10,615 shares during the period. Finally, Creative Planning boosted its holdings in BioMarin Pharmaceutical by 4.6% in the second quarter. Creative Planning now owns 11,825 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 524 shares in the last quarter. 98.71% of the stock is owned by institutional investors.

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.