Cantor Fitzgerald Reaffirms Overweight Rating for BioMarin Pharmaceutical (NASDAQ:BMRN)

Cantor Fitzgerald reiterated their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Thursday,Benzinga reports. Cantor Fitzgerald currently has a $90.00 target price on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective on BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Piper Sandler raised their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday. Wolfe Research began coverage on BioMarin Pharmaceutical in a research report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Citigroup cut their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $68.73 on Thursday. 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 $13.10 billion, a price-to-earnings ratio of 41.16, a PEG ratio of 0.57 and a beta of 0.28. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $64.79 and a 200-day simple moving average of $71.06.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. On average, equities analysts anticipate that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $234,645,000. Capital Research Global Investors lifted its holdings in shares of BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after acquiring an additional 2,496,817 shares during the period. Soleus Capital Management L.P. acquired a new position in BioMarin Pharmaceutical in the fourth quarter valued at about $65,822,000. Dodge & Cox grew its position in BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock worth $969,270,000 after acquiring an additional 847,917 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of BioMarin Pharmaceutical in the third quarter valued at about $48,527,000. 98.71% of the stock is owned by institutional investors.

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.