BioMarin Pharmaceutical’s (BMRN) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report released on Thursday morning,Benzinga reports. They currently have a $70.00 price objective on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the company. Piper Sandler raised their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Evercore ISI lowered their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Wedbush upgraded shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $68.73 on Thursday. The stock has a 50-day moving average price of $64.79 and a 200 day moving average price of $71.06. The company has a current ratio of 4.27, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The stock has a market capitalization of $13.10 billion, a P/E ratio of 41.16, a P/E/G ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. Equities research analysts forecast that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in BioMarin Pharmaceutical by 20.9% during the 3rd quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock valued at $1,005,000 after buying an additional 2,475 shares in the last quarter. Blue Trust Inc. increased its position in shares of BioMarin Pharmaceutical by 504.9% during the third quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after acquiring an additional 717 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of BioMarin Pharmaceutical during the third quarter worth approximately $279,000. Lecap Asset Management Ltd. bought a new stake in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $1,009,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $12,940,000. 98.71% of the stock is owned by hedge funds and other 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.