BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 52-Week Low at $68.73

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $68.73 and last traded at $68.78, with a volume of 145587 shares. The stock had previously closed at $69.13.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BMRN. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, September 5th. Royal Bank of Canada decreased their target price on BioMarin Pharmaceutical from $100.00 to $85.00 and set a "sector perform" rating for the company in a research report on Tuesday, September 17th. TD Cowen decreased their target price on BioMarin Pharmaceutical from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, August 6th. Evercore ISI lifted their target price on BioMarin Pharmaceutical from $113.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, August 6th. Finally, Scotiabank cut their price target on BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating on the stock in a report on Tuesday, September 17th. Eight 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 stock. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and a consensus price target of $98.84.

BioMarin Pharmaceutical Trading Up 0.5 %

The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 64.93, a PEG ratio of 1.03 and a beta of 0.32. The company has a fifty day moving average price of $84.93 and a 200-day moving average price of $84.02. The company has a current ratio of 3.05, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The business 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%. As a group, research analysts expect that BioMarin Pharmaceutical Inc. will post 2.4 EPS for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the company. AMI Asset Management Corp grew its position in shares of BioMarin Pharmaceutical by 51.9% in the first quarter. AMI Asset Management Corp now owns 346,189 shares of the biotechnology company's stock valued at $30,236,000 after purchasing an additional 118,230 shares in the last quarter. AGF Management Ltd. purchased a new position in BioMarin Pharmaceutical in the second quarter worth approximately $2,563,000. Fisher Asset Management LLC purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $1,301,000. APG Asset Management US Inc. purchased a new position in BioMarin Pharmaceutical in the fourth quarter worth approximately $3,462,000. Finally, Bridgewater Associates LP grew its position in BioMarin Pharmaceutical by 18.3% in the fourth quarter. Bridgewater Associates LP now owns 190,970 shares of the biotechnology company's stock worth $18,413,000 after acquiring an additional 29,576 shares during the period. Institutional investors and hedge funds own 98.71% of the company's stock.

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.