BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Cut to $90.00 by Analysts at Cantor Fitzgerald

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lowered by Cantor Fitzgerald from $110.00 to $90.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on the stock. TD Cowen cut their price objective on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Robert W. Baird decreased their price target on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 17th. Evercore ISI reduced their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Barclays reduced their target price on BioMarin Pharmaceutical from $110.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

BioMarin Pharmaceutical Trading Down 4.6 %

Shares of BioMarin Pharmaceutical stock opened at $66.68 on Wednesday. The company has a market capitalization of $12.66 billion, a P/E ratio of 62.32, a P/E/G ratio of 0.81 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The company has a fifty day moving average of $76.08 and a 200 day moving average of $80.94. BioMarin Pharmaceutical has a fifty-two week low of $65.78 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). The business had revenue of $746.00 million during the quarter, compared to analysts’ expectations of $703.37 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. BioMarin Pharmaceutical’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, sell-side analysts anticipate that BioMarin Pharmaceutical will post 2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Innealta Capital LLC bought a new position in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $25,000. nVerses Capital LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at $28,000. BOKF NA purchased a new position in BioMarin Pharmaceutical during the 2nd quarter valued at $31,000. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical during the second quarter worth $47,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.