Barclays Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $86.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target decreased by investment analysts at Barclays from $110.00 to $86.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 23.72% from the company’s previous close.

BMRN has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Stifel Nicolaus dropped their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Royal Bank of Canada reduced their price target on shares of BioMarin Pharmaceutical from $100.00 to $85.00 and set a “sector perform” rating on the stock in a report on Tuesday, September 17th. Sanford C. Bernstein reduced their target price on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 17th. Finally, StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.32.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $69.51 on Friday. The company has a quick ratio of 1.95, a current ratio of 3.05 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52-week low of $67.75 and a 52-week high of $99.56. The company has a 50-day simple moving average of $82.55 and a 200-day simple moving average of $83.18. The company has a market capitalization of $13.20 billion, a PE ratio of 64.96, a P/E/G ratio of 0.80 and a beta of 0.31.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.39. The company had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. Equities research analysts predict that BioMarin Pharmaceutical will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Primecap Management Co. CA grew its stake in BioMarin Pharmaceutical by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after purchasing an additional 76,190 shares in the last quarter. Vanguard Group Inc. grew its position in BioMarin Pharmaceutical by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after purchasing an additional 67,046 shares during the last quarter. Avoro Capital Advisors LLC raised its stake in BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after acquiring an additional 192,416 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of BioMarin Pharmaceutical by 33.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,605,983 shares of the biotechnology company’s stock valued at $154,850,000 after purchasing an additional 401,152 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock worth $85,178,000 after buying an additional 289,953 shares in the last quarter. 98.71% of the stock is owned by institutional investors and hedge funds.

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.