BioMarin Pharmaceutical (NASDAQ:BMRN) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research report report published on Wednesday. The firm issued an overweight rating and a $80.00 price target on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Wall Street Zen cut BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Wedbush reissued an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Leerink Partners downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $82.00 to $60.00 in a report on Wednesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Seventeen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of “Moderate Buy” and a consensus price target of $90.04.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $56.68 on Wednesday. The company has a market capitalization of $10.89 billion, a P/E ratio of 21.31, a PEG ratio of 0.62 and a beta of 0.27. BioMarin Pharmaceutical has a fifty-two week low of $50.76 and a fifty-two week high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The stock has a 50 day moving average price of $56.38 and a two-hundred day moving average price of $55.97.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Monday, October 27th. The biotechnology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.20). BioMarin Pharmaceutical had a return on equity of 9.53% and a net margin of 16.82%.The firm had revenue of $776.13 million during the quarter, compared to analysts’ expectations of $782.42 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that BioMarin Pharmaceutical will post 3.15 earnings per share for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth about $25,000. Quent Capital LLC purchased a new stake in BioMarin Pharmaceutical in the third quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical during the third quarter valued at approximately $40,000. Smartleaf Asset Management LLC lifted its holdings in shares of BioMarin Pharmaceutical by 92.5% during the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 360 shares during the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 295 shares in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.