BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at StockNews.com

BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

Several other research analysts have also commented on BMRN. Wolfe Research assumed coverage on BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price objective for the company in a report on Monday, February 24th. Citigroup boosted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Down 2.1 %

Shares of BMRN opened at $70.49 on Monday. The business’s 50-day moving average price is $65.99 and its 200-day moving average price is $69.08. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The stock has a market cap of $13.45 billion, a PE ratio of 32.04, a P/E/G ratio of 0.61 and a beta of 0.33. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11.

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

Insider Activity

In related news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently made changes to their positions in the business. LRI Investments LLC raised its holdings in shares of BioMarin Pharmaceutical by 856.9% during the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 437 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of BioMarin Pharmaceutical by 57.4% during the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at approximately $36,000. CIBC Private Wealth Group LLC raised its holdings in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 920.8% during the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after acquiring an additional 663 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

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.