BioMarin Pharmaceutical (NASDAQ:BMRN) Given Outperform Rating at Raymond James

Raymond James restated their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Thursday morning, Marketbeat reports. They currently have a $79.00 target price on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. TD Cowen dropped their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a hold rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $110.00 target price on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. William Blair raised shares of BioMarin Pharmaceutical to a strong-buy rating in a report on Friday, August 30th. Finally, Barclays dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an overweight rating on the stock in a report on Friday, October 4th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $96.40.

BioMarin Pharmaceutical Stock Down 0.6 %

NASDAQ:BMRN traded down $0.43 on Thursday, hitting $69.42. 50,088 shares of the company’s stock were exchanged, compared to its average volume of 1,872,112. The firm has a 50-day moving average price of $81.35 and a 200-day moving average price of $82.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. BioMarin Pharmaceutical has a 52 week low of $67.75 and a 52 week high of $99.56. The company has a market cap of $13.18 billion, a P/E ratio of 52.52, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. The firm had revenue of $712.03 million for the quarter, compared to analysts’ expectations of $660.51 million. As a group, analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $25,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth $31,000. Quent Capital LLC lifted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter worth $47,000. Finally, Scarborough Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter worth $71,000. Institutional investors and hedge funds 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.