BioMarin Pharmaceutical (NASDAQ:BMRN) Receives “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note published on Thursday morning, Marketbeat.com reports. They currently have a $61.00 price target on the biotechnology company’s stock, down from their previous price target of $73.00.

A number of other brokerages have also recently weighed in on BMRN. Sanford C. Bernstein reduced their target price on shares of BioMarin Pharmaceutical from $95.00 to $88.00 and set an “outperform” rating for the company in a report on Monday. HC Wainwright reduced their price objective on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Wedbush restated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, October 8th. Finally, UBS Group increased their price target on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Sixteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and an average price target of $89.91.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $51.84 on Thursday. The business’s 50-day moving average price is $54.33 and its 200 day moving average price is $56.90. The firm has a market cap of $9.96 billion, a P/E ratio of 19.49, a PEG ratio of 0.68 and a beta of 0.33. BioMarin Pharmaceutical has a 52-week low of $51.00 and a 52-week high of $73.51. The company has a quick ratio of 3.60, a current ratio of 4.83 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $25,000. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter valued at approximately $28,000. Rise Advisors LLC bought a new position in shares of BioMarin Pharmaceutical in the 1st quarter valued at approximately $30,000. Brooklyn Investment Group lifted its holdings in BioMarin Pharmaceutical by 2,250.0% in the 1st quarter. Brooklyn Investment Group now owns 564 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 540 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of BioMarin Pharmaceutical by 92.5% in the third quarter. Smartleaf Asset Management LLC now owns 749 shares of the biotechnology company’s stock worth $40,000 after buying an additional 360 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

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.