UBS Group Issues Positive Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its price objective lifted by analysts at UBS Group from $104.00 to $106.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. UBS Group's price target points to a potential upside of 59.09% from the stock's current price.

BMRN has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price objective on shares of BioMarin Pharmaceutical from $111.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, September 5th. Truist Financial decreased their target price on BioMarin Pharmaceutical from $118.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. Piper Sandler raised their price target on shares of BioMarin Pharmaceutical from $107.00 to $122.00 and gave the company an "overweight" rating in a report on Thursday, September 5th. Scotiabank lowered their target price on shares of BioMarin Pharmaceutical from $95.00 to $78.00 and set a "sector perform" rating for the company in a report on Tuesday, September 17th. Finally, William Blair cut BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $93.67.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded down $3.28 during trading on Wednesday, reaching $66.63. The company's stock had a trading volume of 2,399,158 shares, compared to its average volume of 1,847,057. The business's fifty day moving average price is $76.60 and its 200-day moving average price is $81.04. BioMarin Pharmaceutical has a one year low of $65.78 and a one year high of $99.56. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 62.91, a price-to-earnings-growth ratio of 0.81 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.23). The company had revenue of $746.00 million for the quarter, compared to the consensus estimate of $703.37 million. BioMarin Pharmaceutical had a return on equity of 6.91% and a net margin of 9.91%. The business's revenue for the quarter was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, equities research analysts predict that BioMarin Pharmaceutical will post 2.39 earnings per share for the current year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the business. AGF Management Ltd. acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $5,627,000. Teachers Retirement System of The State of Kentucky grew its stake 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 valued at $15,990,000 after buying an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in BioMarin Pharmaceutical by 167.4% during the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company's stock worth $1,110,000 after acquiring an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of BioMarin Pharmaceutical by 65.5% during the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company's stock worth $1,524,000 after acquiring an additional 6,906 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

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.