Royal Bank of Canada cut their price target on BioMarin Pharmaceutical (NASDAQ:BMRN) to $85.00

BioMarin Pharmaceutical (NASDAQ:BMRN – Get a Free Report) The target price was lowered by equities researchers at Royal Bank of Canada from $100.00 to $85.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 19.48% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Stifel Nicolaus cut their price objective on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday. 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. William Blair raised BioMarin Pharmaceutical to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. upped their target price on BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Evercore ISI boosted their price target on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.84, according to MarketBeat.com.

Check out our latest research report on BioMarin Pharmaceutical

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $71.14 on Tuesday. The firm has a market cap of $13.51 billion, a P/E ratio of 66.49, a P/E/G ratio of 1.03 and a beta of 0.32. BioMarin Pharmaceutical has a 52-week low of $68.83 and a 52-week high of $99.56. The company’s 50-day moving average price is $86.11 and its 200-day moving average price is $84.49. The company has a quick ratio of 1.95, a current ratio of 3.05, and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report ) last announced its earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.39. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The company had revenue of $712.03 million for the quarter, compared to the consensus estimate of $660.51 million. On average, equities research analysts expect that BioMarin Pharmaceutical will post 2.4 earnings per share for the current year.

Institutional Marketing of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the business. Inçalta Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth approximately $25,000. BOKF NA acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $31,000. Quent Capital LLC lifted its position in shares of 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 acquiring an additional 145 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at $43,000. Finally, Itau Unibanco Holding SA purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at $47,000. Hedge funds and other institutional investors own 98.71% of the company’s shares.

BioMarin Pharmaceutical Company Profile

(Get a free report)

BioMarin Pharmaceutical Inc develops and markets therapies for people with rare diseases and serious and life-threatening medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) type A IV, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, an oral synthetic proprietary form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.

Featured stories

Get news and reviews for BioMarin Pharmaceutical Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for BioMarin Pharmaceutical and related companies with MarketBeat.com’s FREE daily email newsletter.