BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Cut to $90.00 by Analysts at Cantor Fitzgerald

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective trimmed by Cantor Fitzgerald from $110.00 to $90.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of several other reports. Robert W. Baird dropped their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday. Barclays reduced their price objective on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Scotiabank cut their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Finally, Truist Financial cut their price target on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Stock Down 4.6 %

Shares of NASDAQ BMRN opened at $66.68 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 62.32, a PEG ratio of 0.81 and a beta of 0.31. The stock has a 50 day moving average price of $76.08 and a 200 day moving average price of $80.94. BioMarin Pharmaceutical has a 52-week low of $65.78 and a 52-week high of $99.56.

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

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at about $25,000. nVerses Capital LLC purchased a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. BOKF NA acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $31,000. Quent Capital LLC lifted its stake in 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 acquiring an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth $47,000. Hedge funds and other 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.