BioMarin Pharmaceutical (NASDAQ:BMRN) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Tuesday morning, Benzinga reports. They currently have a $107.00 price target on the biotechnology company’s stock.

A number of other equities analysts have also recently weighed in on BMRN. Cantor Fitzgerald reissued an overweight rating and issued a $110.00 price target on shares of BioMarin Pharmaceutical in a report on Monday, August 5th. Scotiabank upped their target price on BioMarin Pharmaceutical from $85.00 to $86.00 and gave the company a sector perform rating in a research note on Tuesday, August 6th. Evercore ISI upped their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an outperform rating in a research note on Tuesday, August 6th. Wells Fargo & Company upped their target price on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the company an overweight rating in a research note on Thursday, June 27th. Finally, StockNews.com upgraded 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 fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $105.26.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $91.37 on Tuesday. BioMarin Pharmaceutical has a fifty-two week low of $73.68 and a fifty-two week high of $99.56. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of 85.39, a price-to-earnings-growth ratio of 1.20 and a beta of 0.32. The business has a fifty day moving average of $85.83 and a 200-day moving average of $84.97. The company has a quick ratio of 1.70, a current ratio of 2.74 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 5.34% and a net margin of 8.31%. The company had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. As a group, analysts predict that BioMarin Pharmaceutical will post 2 earnings per share 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 BMRN. Innealta Capital LLC purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the second quarter valued at about $31,000. Quent Capital LLC boosted its holdings in BioMarin Pharmaceutical by 58.9% in the second quarter. Quent Capital LLC now owns 391 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in BioMarin Pharmaceutical by 135.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 433 shares of the biotechnology company’s stock worth $42,000 after buying an additional 249 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $43,000. 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.