Citigroup Forecasts Strong Price Appreciation for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lifted by analysts at Citigroup from $81.00 to $82.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. Citigroup’s price objective points to a potential upside of 20.15% from the stock’s current price.

Other analysts also recently issued research reports about the stock. 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 research report on Wednesday, October 30th. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price on the stock. UBS Group raised their price objective on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.81.

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of NASDAQ BMRN opened at $68.25 on Thursday. The stock has a market capitalization of $13.01 billion, a PE ratio of 31.02, a P/E/G ratio of 0.58 and a beta of 0.28. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The firm has a fifty day moving average of $64.84 and a 200-day moving average of $71.05. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. On average, analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. LRI Investments LLC raised its stake in BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 437 shares in the last quarter. TD Private Client Wealth LLC increased 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 valued at $36,000 after acquiring an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $36,000. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the period. Institutional investors own 98.71% of the company’s stock.

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.