BioMarin Pharmaceutical (NASDAQ:BMRN) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has a $90.00 target price on the biotechnology company’s stock.

A number of other research firms have also recently weighed in on BMRN. Stifel Nicolaus dropped their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Scotiabank reduced their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 17th. Sanford C. Bernstein lowered their price target on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, September 17th. Finally, UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $65.99 on Thursday. The business has a 50 day simple moving average of $67.05 and a 200 day simple moving average of $77.19. BioMarin Pharmaceutical has a one year low of $61.15 and a one year high of $99.56. The company has a market capitalization of $12.58 billion, a PE ratio of 39.68, a price-to-earnings-growth ratio of 0.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced 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). The firm had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. On average, sell-side analysts forecast that BioMarin Pharmaceutical will post 2.49 EPS for the current fiscal year.

Insider Buying and Selling

In other BioMarin Pharmaceutical news, EVP Charles Greg Guyer sold 5,278 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $66.37, for a total value of $350,300.86. Following the completion of the transaction, the executive vice president now directly owns 68,909 shares of the company’s stock, valued at approximately $4,573,490.33. The trade was a 7.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the business. Tokio Marine Asset Management Co. Ltd. increased its holdings in BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after purchasing an additional 173 shares in the last quarter. Advisors Asset Management Inc. raised its position in BioMarin Pharmaceutical by 1.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after buying an additional 180 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares in the last quarter. Voisard Asset Management Group Inc. boosted its position in BioMarin Pharmaceutical by 17.8% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after acquiring an additional 205 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

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.