BioMarin Pharmaceutical (NASDAQ:BMRN) Lowered to Buy Rating by StockNews.com

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

BMRN has been the topic of several other reports. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Citigroup raised their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Up 0.6 %

Shares of BioMarin Pharmaceutical stock opened at $59.17 on Thursday. BioMarin Pharmaceutical has a 12-month low of $52.93 and a 12-month high of $94.85. The firm’s 50 day simple moving average is $66.83 and its two-hundred day simple moving average is $66.35. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results 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. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The business had revenue of $747.31 million for the quarter, compared to the consensus estimate of $711.05 million. Analysts predict that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at approximately $234,645,000. Capital Research Global Investors increased its stake in BioMarin Pharmaceutical by 23.8% during the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock worth $853,944,000 after acquiring an additional 2,496,817 shares during the last quarter. Soleus Capital Management L.P. purchased a new stake in BioMarin Pharmaceutical in the fourth quarter valued at $65,822,000. Dodge & Cox lifted its stake in shares of BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after purchasing an additional 847,917 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company’s stock worth $84,371,000 after purchasing an additional 685,099 shares during the period. 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.