BioMarin Pharmaceutical (NASDAQ:BMRN) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $80.00 target price on the biotechnology company’s stock.

Other research analysts have also issued research reports about the stock. Scotiabank decreased their price target on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Raymond James reaffirmed an “outperform” rating and set a $79.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, October 10th. TD Cowen dropped their price target on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, Bank of America reduced their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.45.

BioMarin Pharmaceutical Trading Up 1.1 %

Shares of BioMarin Pharmaceutical stock opened at $66.60 on Wednesday. The business has a fifty day simple moving average of $75.13 and a 200-day simple moving average of $80.59. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31. The company has a quick ratio of 1.95, a current ratio of 4.27 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. On average, equities analysts forecast that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently made changes to their positions in the company. Innealta Capital LLC bought a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. nVerses Capital LLC acquired a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth $28,000. BOKF NA bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $31,000. Quent Capital LLC lifted its stake in shares of BioMarin Pharmaceutical by 58.9% in 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 last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in BioMarin Pharmaceutical in the second quarter worth $47,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.