BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Upgraded by Oppenheimer

Oppenheimer upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a market perform rating to an outperform rating in a report issued on Monday, Marketbeat Ratings reports. Oppenheimer currently has $98.00 price target on the biotechnology company’s stock.

BMRN has been the subject of a number of other reports. Bank of America lifted their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Scotiabank upped their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a research note on Thursday, February 20th. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Evercore ISI dropped their price objective on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ:BMRN opened at $68.81 on Monday. The firm has a market capitalization of $13.11 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The business has a 50 day simple moving average of $65.11 and a 200-day simple moving average of $70.47. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $711.05 million. Equities analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the 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 completion of the sale, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning grew its holdings in BioMarin Pharmaceutical by 20.9% in the third quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock worth $1,005,000 after purchasing an additional 2,475 shares during the last quarter. Blue Trust Inc. boosted its position in shares of BioMarin Pharmaceutical by 504.9% in the 3rd quarter. Blue Trust Inc. now owns 859 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 717 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in BioMarin Pharmaceutical during the 3rd quarter worth $279,000. International Assets Investment Management LLC acquired a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $12,940,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in BioMarin Pharmaceutical by 16.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,404 shares of the biotechnology company’s stock valued at $593,000 after buying an additional 1,167 shares in the last quarter. Hedge funds and other 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.