Citigroup Cuts BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $81.00

BioMarin Pharmaceutical (NASDAQ:BMRNFree Report) had its target price decreased by Citigroup from $93.00 to $81.00 in a report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the biotechnology company’s stock.

Several other equities analysts also recently issued reports on the stock. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. UBS Group increased their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday. Raymond James restated an “outperform” rating and set a $79.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.67.

Check Out Our Latest Research Report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Trading Down 4.6 %

Shares of BMRN opened at $66.68 on Wednesday. BioMarin Pharmaceutical has a 1 year low of $65.78 and a 1 year high of $99.56. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $76.08 and a 200-day simple moving average of $80.94. The stock has a market cap of $12.66 billion, a PE ratio of 62.32, a PEG ratio of 0.81 and a beta of 0.31.

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

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. nVerses Capital LLC bought a new stake in BioMarin Pharmaceutical in the third quarter valued at approximately $28,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $31,000. Quent Capital LLC grew its holdings in shares of BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 145 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $47,000. Institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

(Get Free Report)

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.

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