BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $88.00 Price Target at Sanford C. Bernstein

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target decreased by Sanford C. Bernstein from $95.00 to $88.00 in a research note issued to investors on Monday, MarketBeat reports. Sanford C. Bernstein currently has an outperform rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of BioMarin Pharmaceutical from $91.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. HC Wainwright cut their target price 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, October 27th. Zacks Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Barclays cut their target price on shares of BioMarin Pharmaceutical from $86.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, October 28th. Finally, Truist Financial cut their target price on shares of BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, October 28th. Seventeen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.45.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $52.85 on Monday. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 0.68 and a beta of 0.33. The company has a fifty day moving average of $54.66 and a 200 day moving average of $57.01. BioMarin Pharmaceutical has a fifty-two week low of $51.00 and a fifty-two week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 4.83.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of BioMarin Pharmaceutical by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 56,734 shares of the biotechnology company’s stock worth $3,073,000 after purchasing an additional 716 shares during the period. SYM FINANCIAL Corp purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $249,000. AE Wealth Management LLC purchased a new position in shares of BioMarin Pharmaceutical during the 3rd quarter worth about $285,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BioMarin Pharmaceutical by 3.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,100 shares of the biotechnology company’s stock worth $493,000 after purchasing an additional 305 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of BioMarin Pharmaceutical by 292.6% during the 3rd quarter. Federated Hermes Inc. now owns 278,315 shares of the biotechnology company’s stock worth $15,074,000 after purchasing an additional 207,430 shares during the period. 98.71% of the stock is owned by hedge funds and other 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.