BioMarin Pharmaceutical (NASDAQ:BMRN) Receives Hold Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note published on Friday, Benzinga reports. The firm currently has a $93.00 target price on the biotechnology company’s stock.

Several other analysts have also weighed in on the stock. TD Cowen lowered their target price on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein upgraded shares of BioMarin Pharmaceutical from a market perform rating to an outperform rating and boosted their target price for the company from $94.00 to $110.00 in a research note on Tuesday, August 20th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an overweight rating in a report on Thursday, September 5th. Wells Fargo & Company upped their price target on shares of BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. Finally, Scotiabank increased their price objective on shares of BioMarin Pharmaceutical from $86.00 to $95.00 and gave the stock a sector perform rating in a report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of Moderate Buy and a consensus price target of $106.11.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $84.90 on Friday. 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 12 month low of $73.68 and a 12 month high of $99.56. The company has a fifty day moving average price of $86.84 and a two-hundred day moving average price of $84.89. The company has a market cap of $16.12 billion, a PE ratio of 79.35, a P/E/G ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $660.51 million. Research analysts expect that BioMarin Pharmaceutical will post 2.4 earnings per share for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of BMRN. Envestnet Portfolio Solutions Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC boosted its position in shares of 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 in the last quarter. Yousif Capital Management LLC boosted its position in shares of BioMarin Pharmaceutical by 8.9% during the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock valued at $211,000 after purchasing an additional 198 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of BioMarin Pharmaceutical by 6.2% during the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in shares of BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after purchasing an additional 246 shares in the last quarter. 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.