BioMarin Pharmaceutical’s (BMRN) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a $90.00 price target on the biotechnology company’s stock.

Several other equities analysts have also weighed in on the stock. Robert W. Baird reduced their price objective on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Evercore ISI decreased their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citigroup dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Finally, Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $93.81.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $68.73 on Thursday. The stock has a 50-day moving average price of $64.79 and a two-hundred day moving average price of $71.06. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a market cap of $13.10 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. As a group, research analysts predict that BioMarin Pharmaceutical will post 2.5 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Vanguard Group Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of BioMarin Pharmaceutical by 0.4% during the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after purchasing an additional 77,350 shares in the last quarter. Dodge & Cox raised its holdings in BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after purchasing an additional 847,917 shares in the last quarter. Capital Research Global Investors increased its position in BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $234,645,000. 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.