BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $119.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target boosted by JPMorgan Chase & Co. from $116.00 to $119.00 in a research report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on BMRN. Wedbush reiterated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. HC Wainwright began coverage on shares of BioMarin Pharmaceutical in a report on Monday, September 8th. They issued a “neutral” rating and a $60.00 price target for the company. Guggenheim raised their price target on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wolfe Research set a $95.00 price target on shares of BioMarin Pharmaceutical and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial began coverage on shares of BioMarin Pharmaceutical in a report on Wednesday, September 3rd. They issued an “outperform” rating and a $85.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.26.

BioMarin Pharmaceutical Trading Down 2.8%

BMRN opened at $52.32 on Thursday. BioMarin Pharmaceutical has a twelve month low of $51.78 and a twelve month high of $73.51. The company has a quick ratio of 3.60, a current ratio of 5.56 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $56.37 and a 200-day moving average of $58.09. The stock has a market cap of $10.05 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of BioMarin Pharmaceutical during the first quarter valued at about $30,000. Farther Finance Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 211 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $25,000. Brooklyn Investment Group grew its holdings in shares of BioMarin Pharmaceutical by 2,250.0% during the first quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 540 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in shares of BioMarin Pharmaceutical by 480.2% during the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 874 shares during the last quarter. 98.71% of the stock is currently 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.