Evercore ISI Lowers BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $105.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price dropped by investment analysts at Evercore ISI from $115.00 to $105.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Evercore ISI’s price target indicates a potential upside of 59.36% from the company’s previous close.

Other analysts have also recently issued reports about the stock. TD Cowen reduced their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Barclays decreased their price target on shares of BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price objective on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. StockNews.com upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.67.

BioMarin Pharmaceutical Trading Down 1.2 %

Shares of NASDAQ:BMRN opened at $65.89 on Wednesday. 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 $12.51 billion, a PE ratio of 61.58, a P/E/G ratio of 0.81 and a beta of 0.31. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The firm has a fifty day moving average price of $75.60 and a 200 day moving average price of $80.84.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the company posted $0.26 EPS. The business’s revenue was up 28.4% compared to the same quarter last year. Analysts expect that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 1.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the period. Quent Capital LLC boosted its position in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Voisard Asset Management Group Inc. grew its stake in BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock worth $95,000 after buying an additional 205 shares during the last quarter. Grandfield & Dodd LLC increased its holdings in shares of BioMarin Pharmaceutical by 1.6% during the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock worth $1,409,000 after buying an additional 255 shares in the last quarter. Finally, AIA Group Ltd raised its stake in shares of BioMarin Pharmaceutical by 7.0% in the first quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock valued at $356,000 after acquiring an additional 266 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.