BioMarin Pharmaceutical (NASDAQ:BMRN) PT Lowered to $90.00 at Wells Fargo & Company

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lowered by Wells Fargo & Company from $115.00 to $90.00 in a report released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on BMRN. Evercore ISI increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an outperform rating in a research report on Tuesday, August 6th. Stifel Nicolaus cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a buy rating for the company in a report on Tuesday. Royal Bank of Canada cut their price objective on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a sector perform rating for the company in a report on Tuesday. Truist Financial cut their price objective on shares of BioMarin Pharmaceutical from $118.00 to $90.00 and set a buy rating for the company in a report on Tuesday. Finally, Canaccord Genuity Group reaffirmed a hold rating and issued a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has an average rating of Moderate Buy and a consensus price target of $98.84.

BioMarin Pharmaceutical Stock Up 0.4 %

BioMarin Pharmaceutical stock opened at $71.41 on Tuesday. BioMarin Pharmaceutical has a twelve month low of $68.83 and a twelve month high of $99.56. The firm has a 50 day moving average price of $85.86 and a 200-day moving average price of $84.40. The company has a market capitalization of $13.56 billion, a P/E ratio of 66.74, a P/E/G ratio of 1.03 and a beta of 0.32. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11.

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 analysts’ consensus estimates 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 the consensus estimate of $660.51 million. As a group, equities analysts predict that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the stock. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth $31,000. Quent Capital LLC raised its position in 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 purchasing an additional 145 shares during the period. Jones Financial Companies Lllp purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth $43,000. Finally, Itau Unibanco Holding S.A. purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth $47,000. Hedge funds and other 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.