UBS Group Boosts BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $113.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lifted by investment analysts at UBS Group from $109.00 to $113.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. UBS Group’s price target points to a potential upside of 66.26% from the stock’s current price.

A number of other analysts also recently issued reports on BMRN. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, December 12th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target for the company. Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a report on Monday, November 4th. Canaccord Genuity Group dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Finally, William Blair cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and an average price target of $94.15.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $67.97 on Thursday. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The firm has a market capitalization of $12.95 billion, a P/E ratio of 40.67, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28. The stock’s fifty day moving average is $64.79 and its two-hundred day moving average is $71.06. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The firm had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. On average, research analysts anticipate that BioMarin Pharmaceutical will post 2.5 earnings per share for the current year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its position in shares of BioMarin Pharmaceutical by 3.8% in the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock valued at $1,634,000 after buying an additional 920 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at $263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of BioMarin Pharmaceutical by 19.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock worth $69,351,000 after purchasing an additional 174,634 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of BioMarin Pharmaceutical by 461.2% during the fourth quarter. Voloridge Investment Management LLC now owns 271,298 shares of the biotechnology company’s stock worth $17,832,000 after purchasing an additional 222,958 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of BioMarin Pharmaceutical by 337.5% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 278,118 shares of the biotechnology company’s stock valued at $18,281,000 after purchasing an additional 214,546 shares during the last quarter. Institutional investors and hedge funds 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.