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

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective reduced by Truist Financial from $118.00 to $90.00 in a report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other research firms have also issued reports on BMRN. Scotiabank lifted their target price on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the company a sector perform rating in a report on Thursday, September 5th. TD Cowen lowered their price objective 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. StockNews.com upgraded BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. Royal Bank of Canada cut their target price on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a sector perform rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a research report on Thursday, June 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of Moderate Buy and an average price target of $98.84.

BioMarin Pharmaceutical Trading Down 1.0 %

Shares of BMRN opened at $70.69 on Tuesday. The stock has a market capitalization of $13.42 billion, a P/E ratio of 66.07, a PEG ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical has a twelve month low of $68.83 and a twelve month high of $99.56. The firm has a fifty day simple moving average of $85.57 and a two-hundred day simple moving average of $84.29. 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 (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $660.51 million. On average, research analysts anticipate that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in BMRN. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the last quarter. Quent Capital LLC raised its holdings 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 buying an additional 145 shares during the period. Yousif Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 8.9% during the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after buying an additional 198 shares during the period. Integrated Advisors Network LLC increased its position in BioMarin Pharmaceutical by 6.2% during the fourth quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 246 shares during the period. 98.71% of the stock is currently owned by institutional investors.

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.