BioMarin Pharmaceutical (NASDAQ:BMRN) Hits New 12-Month Low at $72.90

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $72.90 and last traded at $73.69, with a volume of 789251 shares traded. The stock had previously closed at $84.90.

Analysts Set New Price Targets

BMRN has been the subject of several recent research reports. Barclays decreased their price objective on BioMarin Pharmaceutical from $111.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada reissued a "sector perform" rating and set a $100.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, September 5th. Evercore ISI lifted their price objective on shares of BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, August 6th. Finally, StockNews.com raised shares of 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, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.11.

BioMarin Pharmaceutical Trading Down 17.7 %

The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 68.87, a P/E/G ratio of 1.03 and a beta of 0.32. 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 company's fifty day moving average price is $86.84 and its 200-day moving average price is $84.82.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.39. The company 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, research analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $1,783,000. Teachers Retirement System of The State of Kentucky boosted its position in BioMarin Pharmaceutical by 17.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company's stock worth $15,990,000 after purchasing an additional 28,837 shares in the last quarter. Novo Holdings A S grew its stake in shares of BioMarin Pharmaceutical by 8.9% during the 2nd quarter. Novo Holdings A S now owns 490,000 shares of the biotechnology company's stock worth $40,342,000 after purchasing an additional 40,000 shares during the period. NewEdge Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 3,931.5% during the 2nd quarter. NewEdge Advisors LLC now owns 10,885 shares of the biotechnology company's stock valued at $896,000 after purchasing an additional 10,615 shares in the last quarter. Finally, Creative Planning lifted its stake in shares of BioMarin Pharmaceutical by 4.6% in the 2nd quarter. Creative Planning now owns 11,825 shares of the biotechnology company's stock valued at $974,000 after purchasing an additional 524 shares during the period. Institutional investors and hedge funds 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.