BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $126.00 Price Target at Piper Sandler

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target boosted by Piper Sandler from $122.00 to $126.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Robert W. Baird lowered 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Evercore ISI lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” 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. Finally, Bank of America boosted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Price Performance

BMRN opened at $68.73 on Thursday. 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 has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a 50-day moving average of $64.79 and a 200-day moving average of $71.06. The company has a market capitalization of $13.10 billion, a P/E ratio of 41.16, a PEG ratio of 0.57 and a beta of 0.28.

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

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC raised its holdings in shares of BioMarin Pharmaceutical by 856.9% in the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 437 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $36,000. CIBC Private Wealth Group LLC lifted its position in shares of BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 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.