Sanford C. Bernstein Trims BioMarin Pharmaceutical (NASDAQ:BMRN) Target Price to $90.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective lowered by Sanford C. Bernstein from $116.00 to $90.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other research analysts have also commented on the stock. TD Cowen cut their price target on shares of BioMarin Pharmaceutical from $125.00 to $120.00 and set a buy rating on the stock in a report on Tuesday, August 6th. Canaccord Genuity Group reiterated a hold rating and set a $93.00 target price on shares of BioMarin Pharmaceutical in a research note on Friday, September 13th. Wells Fargo & Company lifted their price target on BioMarin Pharmaceutical from $110.00 to $115.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Stifel Nicolaus boosted their target price on shares of BioMarin Pharmaceutical from $112.00 to $115.00 and gave the company a buy rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an overweight rating in a research report on Thursday, September 5th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $98.84.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $70.69 on Tuesday. BioMarin Pharmaceutical has a 1-year low of $68.83 and a 1-year high of $99.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.05 and a quick ratio of 1.95. The firm’s fifty day moving average price is $85.57 and its 200 day moving average price is $84.29. The firm has a market cap of $13.42 billion, a price-to-earnings ratio of 66.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.39. The firm had revenue of $712.03 million during the quarter, compared to analysts’ expectations of $660.51 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. On average, sell-side analysts expect that BioMarin Pharmaceutical will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BMRN. Envestnet Portfolio Solutions Inc. boosted its holdings in 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 in the last quarter. 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 worth $32,000 after purchasing an additional 145 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 8.9% in the first quarter. Yousif Capital Management LLC now owns 2,414 shares of the biotechnology company’s stock worth $211,000 after acquiring an additional 198 shares during the period. Integrated Advisors Network LLC increased its position in shares of BioMarin Pharmaceutical by 6.2% during the 4th quarter. Integrated Advisors Network LLC now owns 3,533 shares of the biotechnology company’s stock valued at $341,000 after purchasing an additional 206 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its holdings in BioMarin Pharmaceutical by 10.9% during the first quarter. SteelPeak Wealth LLC now owns 2,498 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 246 shares during the last quarter. 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.