Sanford C. Bernstein Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $90.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective trimmed by Sanford C. Bernstein from $116.00 to $90.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on BMRN. Barclays dropped their price target on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. TD Cowen cut their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating on the stock in a research report on Tuesday, August 6th. William Blair raised BioMarin Pharmaceutical to a strong-buy rating in a research report on Friday, August 30th. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a sector perform rating in a report on Thursday, September 5th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a research note on Monday, September 9th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and a consensus price target of $98.84.

BioMarin Pharmaceutical Trading Up 0.4 %

NASDAQ BMRN opened at $71.41 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52 week low of $68.83 and a 52 week high of $99.56. The business has a 50 day moving average price of $85.86 and a 200-day moving average price of $84.40. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 66.74, a P/E/G ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating 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 business had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. As a group, equities analysts expect that BioMarin Pharmaceutical will post 2.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of BioMarin Pharmaceutical by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 704,953 shares of the biotechnology company’s stock worth $67,975,000 after purchasing an additional 71,853 shares in the last quarter. Panagora Asset Management Inc. grew its stake in BioMarin Pharmaceutical by 4.6% in the 4th quarter. Panagora Asset Management Inc. now owns 26,418 shares of the biotechnology company’s stock valued at $2,547,000 after buying an additional 1,173 shares in the last quarter. Norges Bank purchased a new position in BioMarin Pharmaceutical in the 4th quarter valued at approximately $324,098,000. Dynamic Technology Lab Private Ltd bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at $805,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of BioMarin Pharmaceutical by 174.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 8,543 shares of the biotechnology company’s stock worth $824,000 after acquiring an additional 5,434 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.

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.