BioMarin Pharmaceutical (NASDAQ:BMRN) Now Covered by Analysts at Barclays

Equities research analysts at Barclays assumed coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Wednesday. The brokerage set an “overweight” rating and a $80.00 price target on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 40.72% from the company’s previous close.

A number of other equities analysts also recently commented on BMRN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BioMarin Pharmaceutical in a research note on Monday, December 29th. Sanford C. Bernstein lowered their price objective on BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Wolfe Research restated an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $66.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $90.04.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $56.85 on Wednesday. The business’s 50 day moving average price is $56.30 and its 200 day moving average price is $55.96. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 0.62 and a beta of 0.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. BioMarin Pharmaceutical has a one year low of $50.76 and a one year high of $73.51.

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

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in BMRN. Evergreen Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.4% in the fourth quarter. Evergreen Capital Management LLC now owns 6,031 shares of the biotechnology company’s stock valued at $358,000 after purchasing an additional 618 shares in the last quarter. Krilogy Financial LLC grew its stake in shares of BioMarin Pharmaceutical by 7.7% in the fourth quarter. Krilogy Financial LLC now owns 15,720 shares of the biotechnology company’s stock worth $893,000 after acquiring an additional 1,126 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of BioMarin Pharmaceutical by 17.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,681 shares of the biotechnology company’s stock worth $635,000 after acquiring an additional 1,581 shares during the period. Parcion Private Wealth LLC acquired a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $421,000. Finally, KBC Group NV boosted its holdings in BioMarin Pharmaceutical by 10.0% in the fourth quarter. KBC Group NV now owns 168,779 shares of the biotechnology company’s stock valued at $10,031,000 after purchasing an additional 15,362 shares during the period. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

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.