Stifel Nicolaus Cuts BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $87.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target reduced by Stifel Nicolaus from $115.00 to $87.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein lowered their target price on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an outperform rating on the stock in a report on Tuesday. Scotiabank boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an overweight rating in a report on Thursday, September 5th. TD Cowen lowered their target price 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. Finally, Barclays lowered their target price on shares of BioMarin Pharmaceutical from $111.00 to $110.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. 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 company. According to MarketBeat, BioMarin Pharmaceutical has a consensus rating of Moderate Buy and a consensus price target of $98.84.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $71.41 on Tuesday. 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 one year low of $68.83 and a one year high of $99.56. The firm has a market capitalization of $13.56 billion, a P/E ratio of 66.74, a PEG ratio of 1.03 and a beta of 0.32. The business has a fifty day moving average of $85.86 and a 200 day moving average of $84.40.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million during the quarter, compared to analyst estimates of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BMRN. Capital Research Global Investors increased its position in BioMarin Pharmaceutical by 79.0% during 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 acquiring an additional 4,756,671 shares during the last quarter. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at $324,098,000. Principal Financial Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 1,858.6% during the second quarter. Principal Financial Group Inc. now owns 649,460 shares of the biotechnology company’s stock valued at $53,470,000 after purchasing an additional 616,301 shares during the period. Avoro Capital Advisors LLC boosted its stake in shares of BioMarin Pharmaceutical by 11.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,300,000 shares of the biotechnology company’s stock valued at $414,606,000 after purchasing an additional 450,000 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after purchasing an additional 401,152 shares during the period. Institutional investors own 98.71% of the company’s stock.

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.