Cantor Fitzgerald Reaffirms “Overweight” Rating for BioMarin Pharmaceutical (NASDAQ:BMRN)

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Thursday,Benzinga reports. They currently have a $90.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 31.23% from the company’s previous close.

Several other analysts have also issued reports on the company. StockNews.com upgraded BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Bank of America increased their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Citigroup dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Finally, William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.15.

BioMarin Pharmaceutical Stock Performance

BMRN traded up $2.97 during trading on Thursday, hitting $68.58. 964,976 shares of the company traded hands, compared to its average volume of 1,487,476. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85. The stock’s fifty day moving average is $64.79 and its 200 day moving average is $71.06. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. The firm has a market cap of $13.07 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. As a group, equities analysts predict that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank raised its position in BioMarin Pharmaceutical by 3.8% during the fourth quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock valued at $1,634,000 after purchasing an additional 920 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $263,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of BioMarin Pharmaceutical by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock valued at $69,351,000 after buying an additional 174,634 shares in the last quarter. Voloridge Investment Management LLC lifted its position in BioMarin Pharmaceutical by 461.2% in the 4th quarter. Voloridge Investment Management LLC now owns 271,298 shares of the biotechnology company’s stock worth $17,832,000 after buying an additional 222,958 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in BioMarin Pharmaceutical by 337.5% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 278,118 shares of the biotechnology company’s stock worth $18,281,000 after buying an additional 214,546 shares in the last quarter. 98.71% of the stock is 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.