BioMarin Pharmaceutical (NASDAQ:BMRN) Earns “Sector Perform” Rating from Royal Bank of Canada

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They currently have a $80.00 target price on the biotechnology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.04% from the company’s current price.

A number of other analysts have also recently issued reports on the company. Canaccord Genuity Group restated a “hold” rating and set a $93.00 price objective on shares of BioMarin Pharmaceutical in a research report on Friday, September 13th. Stifel Nicolaus lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Sanford C. Bernstein dropped their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, September 17th. Finally, Scotiabank cut their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.05.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $1.56 during mid-day trading on Wednesday, reaching $68.35. The company had a trading volume of 1,010,205 shares, compared to its average volume of 1,839,993. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of 63.82, a PEG ratio of 0.81 and a beta of 0.31. The company has a 50 day moving average of $76.60 and a 200-day moving average of $81.04. BioMarin Pharmaceutical has a 52 week low of $65.78 and a 52 week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The company had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. On average, sell-side analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its holdings in BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 130 shares during the last quarter. Quent Capital LLC raised its stake in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Voisard Asset Management Group Inc. lifted its holdings in BioMarin Pharmaceutical by 17.8% in the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 205 shares during the period. Grandfield & Dodd LLC lifted its holdings in BioMarin Pharmaceutical by 1.6% in the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock valued at $1,409,000 after buying an additional 255 shares during the period. Finally, AIA Group Ltd boosted its stake in BioMarin Pharmaceutical by 7.0% in the first quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 266 shares during 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.