BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a strong-buy rating in a report published on Saturday.

Other research analysts have also issued research reports about the stock. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler upped their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group decreased their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Finally, William Blair downgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Stock Down 0.7 %

BioMarin Pharmaceutical stock opened at $68.25 on Friday. The firm has a market cap of $13.01 billion, a PE ratio of 31.02, a P/E/G ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The firm’s 50 day moving average price is $64.88 and its two-hundred day moving average price is $70.96. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, research analysts predict that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently bought and sold shares of the stock. LRI Investments LLC raised its stake in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 437 shares during the last quarter. TD Private Client Wealth LLC raised its stake in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at $36,000. CIBC Private Wealth Group LLC raised its stake in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

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.