BioMarin Pharmaceutical (NASDAQ:BMRN) Coverage Initiated at Barclays

Equities research analysts at Barclays assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report released on Wednesday. The brokerage set an “overweight” rating and a $80.00 price target on the biotechnology company’s stock. Barclays‘s price objective would indicate a potential upside of 40.38% from the stock’s previous close.

Other analysts have also issued reports about the stock. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Truist Financial increased their price target on shares of BioMarin Pharmaceutical from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. HC Wainwright boosted their price objective on shares of BioMarin Pharmaceutical from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, December 22nd. Leerink Partners cut BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $82.00 to $60.00 in a research report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.04.

BioMarin Pharmaceutical Trading Up 0.5%

BioMarin Pharmaceutical stock opened at $56.99 on Wednesday. BioMarin Pharmaceutical has a 12 month low of $50.76 and a 12 month high of $73.51. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.27. The business’s fifty day simple moving average is $56.47 and its two-hundred day simple moving average is $55.97. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.20). The company had revenue of $776.13 million during the quarter, compared to analysts’ expectations of $782.42 million. BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.BioMarin Pharmaceutical’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities analysts predict that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $25,000. Quent Capital LLC bought a new position in BioMarin Pharmaceutical in the third quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its position in BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 360 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Finally, Parallel Advisors LLC grew its stake in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 295 shares during the period. 98.71% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.