BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $81.00 Price Target at Citigroup

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective decreased by Citigroup from $93.00 to $81.00 in a research report released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the stock. Piper Sandler raised their target price 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. TD Cowen reduced their price objective 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. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Robert W. Baird cut their price target on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Cantor Fitzgerald lowered their price objective on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $93.67.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $66.60 on Wednesday. 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 has a 52-week low of $65.35 and a 52-week high of $99.56. The firm has a market cap of $12.65 billion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.31. The company’s 50 day moving average is $75.13 and its two-hundred day moving average is $80.67.

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

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at $28,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the 2nd quarter worth $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 worth $32,000 after acquiring an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $47,000. 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.