Sanford C. Bernstein Trims BioMarin Pharmaceutical (NASDAQ:BMRN) Target Price to $90.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target lowered by Sanford C. Bernstein from $116.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts have also recently commented on the stock. Evercore ISI increased their target price on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the stock an outperform rating in a report on Tuesday, August 6th. William Blair upgraded shares of BioMarin Pharmaceutical to a strong-buy rating in a research report on Friday, August 30th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a hold rating to a buy rating in a report on Thursday, August 8th. Canaccord Genuity Group reissued a hold rating and set a $93.00 price objective on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Finally, Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of Moderate Buy and an average target price of $98.84.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $71.41 on Tuesday. The firm has a 50 day moving average of $85.86 and a 200-day moving average of $84.40. BioMarin Pharmaceutical has a 12 month low of $68.83 and a 12 month high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $13.56 billion, a PE ratio of 66.74, a PEG ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million for the quarter, compared to analyst estimates of $660.51 million. On average, equities research analysts predict that BioMarin Pharmaceutical will post 2.4 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after purchasing an additional 130 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after buying an additional 145 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of BioMarin Pharmaceutical by 8.9% during the 1st quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after buying an additional 198 shares during the period. Integrated Advisors Network LLC increased its stake in shares of BioMarin Pharmaceutical by 6.2% in the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 206 shares in the last quarter. Finally, SteelPeak Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 10.9% during the 1st quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 246 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.