Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Target Price at $94.20

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have earned an average rating of “Moderate Buy” from the twenty-three research firms that are covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $94.20.

Several research firms recently issued reports on BMRN. Robert W. Baird cut their target price on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 price target on the stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Creative Planning boosted its stake in shares of BioMarin Pharmaceutical by 4.6% during the second quarter. Creative Planning now owns 11,825 shares of the biotechnology company’s stock valued at $974,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC lifted its holdings in BioMarin Pharmaceutical by 56.1% during the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 281 shares in the last quarter. Diversified Trust Co purchased a new stake in BioMarin Pharmaceutical in the 3rd quarter valued at about $278,000. Atomi Financial Group Inc. bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $393,000. Finally, CWM LLC increased its position in shares of BioMarin Pharmaceutical by 363.1% during the third quarter. CWM LLC now owns 11,106 shares of the biotechnology company’s stock worth $781,000 after acquiring an additional 8,708 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of BMRN stock opened at $63.50 on Friday. The stock has a fifty day simple moving average of $64.97 and a two-hundred day simple moving average of $72.08. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a market capitalization of $12.10 billion, a PE ratio of 38.02, a PEG ratio of 0.57 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

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.