BioMarin Pharmaceutical (NASDAQ:BMRN) Given Hold Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Friday morning, Benzinga reports. They currently have a $93.00 price objective on the biotechnology company’s stock.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and lifted their price objective for the company from $94.00 to $110.00 in a research report on Tuesday, August 20th. Cantor Fitzgerald reissued an overweight rating and issued a $110.00 price objective on shares of BioMarin Pharmaceutical in a report on Monday, September 9th. Stifel Nicolaus raised their target price on BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Scotiabank increased their price target on BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a sector perform rating in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an overweight rating in a research note on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $106.11.

BioMarin Pharmaceutical Stock Down 17.7 %

Shares of NASDAQ:BMRN opened at $69.86 on Friday. The company’s fifty day moving average is $86.58 and its two-hundred day moving average is $84.71. 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 has a 1-year low of $69.60 and a 1-year high of $99.56. The stock has a market capitalization of $13.27 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share 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 analyst estimates of $660.51 million. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. Primecap Management Co. CA boosted its stake in shares of BioMarin Pharmaceutical by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after buying an additional 76,190 shares during the period. Vanguard Group Inc. boosted its position in BioMarin Pharmaceutical by 0.4% during the first quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock valued at $1,582,348,000 after purchasing an additional 67,046 shares during the last quarter. Capital Research Global Investors grew its stake in BioMarin Pharmaceutical by 79.0% in the fourth quarter. Capital Research Global Investors now owns 10,774,641 shares of the biotechnology company’s stock valued at $1,038,907,000 after purchasing an additional 4,756,671 shares in the last quarter. Avoro Capital Advisors LLC increased its position in BioMarin Pharmaceutical by 4.4% in the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock worth $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter worth about $324,098,000. 98.71% of the stock is owned by hedge funds and other 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.