Barclays Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $86.00

by · The Markets Daily

BioMarin Pharmaceutical (NASDAQ:BMRN – Free Report) had its target price lowered by Barclays from $110.00 to $86.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on BMRN. StockNews.com raised BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Wells Fargo & Company reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an overweight rating on the stock in a research note on Tuesday, September 17th. Sanford C. Bernstein cut their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an outperform rating for the company in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $97.32.

View Our Latest Stock Report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Trading Down 0.8 %

BMRN stock opened at $68.96 on Friday. BioMarin Pharmaceutical has a 52 week low of $67.75 and a 52 week high of $99.56. The company has a market capitalization of $13.09 billion, a PE ratio of 64.45, a price-to-earnings-growth ratio of 0.80 and a beta of 0.31. The company’s 50-day simple moving average is $82.55 and its 200 day simple moving average is $83.17. 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 (NASDAQ:BMRN – Get Free Report) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The firm had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical will post 2.39 earnings per share for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the second quarter worth approximately $25,000. BOKF NA acquired a new position in BioMarin Pharmaceutical in the second quarter valued at $31,000. Quent Capital LLC boosted its position in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in BioMarin Pharmaceutical in the fourth quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $47,000. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

(Get Free Report)

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.

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