BioMarin Pharmaceutical (NASDAQ:BMRN) Earns Overweight Rating from Analysts at Barclays

Barclays started coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Wednesday morning. The firm issued an overweight rating and a $80.00 price objective on the biotechnology company’s stock.

A number of other research firms have also weighed in on BMRN. Morgan Stanley cut their target price on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Leerink Partners cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $82.00 to $60.00 in a research note on Wednesday, December 3rd. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Wolfe Research reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Finally, Truist Financial lifted their price target on BioMarin Pharmaceutical from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average target price of $90.04.

BioMarin Pharmaceutical Trading Down 0.8%

Shares of BMRN stock opened at $56.54 on Wednesday. The company has a current ratio of 4.83, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.62 and a beta of 0.27. BioMarin Pharmaceutical has a 12-month low of $50.76 and a 12-month high of $73.51. The stock’s 50-day moving average price is $56.51 and its 200-day moving average price is $55.96.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently bought and sold shares of the business. Activest Wealth Management bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $26,000. V Square Quantitative Management LLC bought a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. Quent Capital LLC purchased a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in BioMarin Pharmaceutical during the 3rd quarter valued at about $40,000. Finally, Smartleaf Asset Management LLC boosted its position in BioMarin Pharmaceutical by 92.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 360 shares during the period. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.