Piper Sandler Raises BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $126.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target raised by Piper Sandler from $122.00 to $126.00 in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on BMRN. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Seven investment 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 company. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of BioMarin Pharmaceutical stock 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 current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The stock has a market cap of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The company has a 50-day moving average of $64.88 and a two-hundred day moving average of $70.96.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. On average, research analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the stock. LRI Investments LLC boosted its holdings in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings 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 acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $36,000. CIBC Private Wealth Group LLC lifted its holdings 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 in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 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.