BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Lowered to $73.00 at Stifel Nicolaus

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lowered by Stifel Nicolaus from $91.00 to $73.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the stock. Guggenheim boosted their price objective on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Wedbush reiterated an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. Finally, Wolfe Research reiterated an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday. Seventeen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Stock Up 1.6%

Shares of BioMarin Pharmaceutical stock opened at $53.49 on Tuesday. The company has a market cap of $10.27 billion, a P/E ratio of 20.11, a P/E/G ratio of 0.66 and a beta of 0.33. BioMarin Pharmaceutical has a 1 year low of $51.56 and a 1 year high of $73.51. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $55.12 and a 200 day moving average price of $57.20.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new position in BioMarin Pharmaceutical during the third quarter worth $293,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of BioMarin Pharmaceutical by 0.7% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 96,969 shares of the biotechnology company’s stock worth $5,252,000 after acquiring an additional 700 shares in the last quarter. Quent Capital LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $28,000. Nordea Investment Management AB boosted its stake in shares of BioMarin Pharmaceutical by 25.0% during the 3rd quarter. Nordea Investment Management AB now owns 18,679 shares of the biotechnology company’s stock worth $995,000 after acquiring an additional 3,735 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its stake in shares of BioMarin Pharmaceutical by 7.8% during the 3rd quarter. New York State Teachers Retirement System now owns 115,991 shares of the biotechnology company’s stock worth $6,282,000 after acquiring an additional 8,386 shares in the last quarter. 98.71% of the stock is 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.