BioMarin Pharmaceutical’s (BMRN) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Thursday, Benzinga reports. They currently have a $100.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on BMRN. Evercore ISI boosted their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday, August 6th. Robert W. Baird lowered BioMarin Pharmaceutical from an outperform rating to a neutral rating and lowered their target price for the stock from $104.00 to $72.00 in a report on Friday, May 17th. StockNews.com raised shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an overweight rating in a research note on Thursday. Finally, Sanford C. Bernstein raised shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and increased their target price for the company from $94.00 to $110.00 in a research note on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $106.10.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $84.08 on Thursday. The firm has a market capitalization of $15.97 billion, a price-to-earnings ratio of 78.58 and a beta of 0.32. The stock’s fifty day moving average is $86.53 and its 200-day moving average is $85.04. BioMarin Pharmaceutical has a one year low of $73.68 and a one year high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.38 by $0.39. The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.35 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter worth $25,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $31,000. Quent Capital LLC boosted its stake 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 purchasing an additional 145 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in BioMarin Pharmaceutical by 135.3% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.