BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Cut to $80.00 by Analysts at Barclays

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price trimmed by Barclays from $86.00 to $80.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

BMRN has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. HC Wainwright decreased their price target on shares of BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $53.49 on Tuesday. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. The stock’s 50-day moving average is $55.12 and its 200-day moving average is $57.20. BioMarin Pharmaceutical has a one year low of $51.56 and a one year high of $73.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in shares of BioMarin Pharmaceutical by 90.7% in the second quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company’s stock valued at $306,429,000 after buying an additional 2,654,768 shares during the last quarter. Nuveen LLC bought a new stake in BioMarin Pharmaceutical in the 1st quarter valued at $184,475,000. Norges Bank bought a new stake in BioMarin Pharmaceutical in the 2nd quarter valued at $112,352,000. Viking Global Investors LP boosted its stake in BioMarin Pharmaceutical by 13.8% in the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of BioMarin Pharmaceutical by 212.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company’s stock worth $112,607,000 after buying an additional 1,083,512 shares in the last quarter. 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.