BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $109.00 Price Target at JPMorgan Chase & Co.

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective cut by JPMorgan Chase & Co. from $110.00 to $109.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other research analysts have also recently commented on the stock. Canaccord Genuity Group reiterated a “hold” rating and issued a $93.00 target price on shares of BioMarin Pharmaceutical in a report on Friday, September 13th. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and set a $79.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Scotiabank decreased their target price on BioMarin Pharmaceutical from $95.00 to $78.00 and set a “sector perform” rating for the company in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company reduced their price objective on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating for the company in a research note on Tuesday, September 17th. Eight analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.67.

BioMarin Pharmaceutical Trading Up 1.1 %

BioMarin Pharmaceutical stock opened at $66.60 on Wednesday. BioMarin Pharmaceutical has a 1 year low of $65.35 and a 1 year high of $99.56. The firm’s 50 day moving average price is $75.13 and its two-hundred day moving average price is $80.67. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 39.88, a price-to-earnings-growth ratio of 0.77 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 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, research analysts predict that BioMarin Pharmaceutical will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of BioMarin Pharmaceutical by 1.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 10,668 shares of the biotechnology company’s stock valued at $932,000 after acquiring an additional 130 shares during the period. Quent Capital LLC increased its holdings in shares of BioMarin Pharmaceutical by 58.9% during the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 145 shares during the period. Voisard Asset Management Group Inc. raised its position in shares of BioMarin Pharmaceutical by 17.8% during the third quarter. Voisard Asset Management Group Inc. now owns 1,355 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 205 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in shares of BioMarin Pharmaceutical by 1.6% in the first quarter. Grandfield & Dodd LLC now owns 16,127 shares of the biotechnology company’s stock valued at $1,409,000 after buying an additional 255 shares during the period. Finally, AIA Group Ltd grew its position in BioMarin Pharmaceutical by 7.0% during the first quarter. AIA Group Ltd now owns 4,076 shares of the biotechnology company’s stock worth $356,000 after buying an additional 266 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.