Robert W. Baird Has Lowered Expectations for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target reduced by Robert W. Baird from $72.00 to $65.00 in a research note published on Wednesday, Benzinga reports. Robert W. Baird currently has a neutral rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. Bank of America cut their price objective on BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Royal Bank of Canada cut their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Stifel Nicolaus cut their price objective on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. TD Cowen cut their price objective on BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial cut their price objective on BioMarin Pharmaceutical from $118.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.45.

BioMarin Pharmaceutical Stock Up 1.1 %

BMRN 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. The firm has a market capitalization of $12.65 billion, a PE ratio of 39.88, a PEG ratio of 0.77 and a beta of 0.31. BioMarin Pharmaceutical has a twelve month low of $65.35 and a twelve month high of $99.56. The stock has a 50-day simple moving average of $75.13 and a two-hundred day simple moving average of $80.59.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share 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 for the quarter, compared to analysts’ expectations of $703.37 million. During the same period in the previous year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, equities analysts predict that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AGF Management Ltd. bought a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $5,627,000. Teachers Retirement System of The State of Kentucky lifted its position in BioMarin Pharmaceutical by 17.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company’s stock valued at $15,990,000 after purchasing an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in BioMarin Pharmaceutical by 167.4% in the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company’s stock valued at $1,110,000 after purchasing an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in BioMarin Pharmaceutical by 65.5% in the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 6,906 shares during 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.