BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Increased to Strong-Buy at Wedbush

Wedbush upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Evercore ISI decreased their target price on BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut their target price on BioMarin Pharmaceutical from $115.00 to $90.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and issued a $79.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein cut their price objective on BioMarin Pharmaceutical from $116.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.16.

BioMarin Pharmaceutical Stock Up 1.2 %

BMRN opened at $66.94 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The company has a market capitalization of $12.76 billion, a PE ratio of 40.08, a P/E/G ratio of 0.65 and a beta of 0.31. The stock’s fifty day moving average is $73.68 and its 200-day moving average is $80.10. BioMarin Pharmaceutical has a one year low of $65.35 and a one year high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.23). BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The business had revenue of $746.00 million during the quarter, compared to the consensus estimate of $703.37 million. During the same quarter last year, the firm posted $0.26 earnings per share. BioMarin Pharmaceutical’s revenue was up 28.4% compared to the same quarter last year. On average, equities analysts predict that BioMarin Pharmaceutical will post 2.47 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

A number of institutional investors have recently bought and sold shares of BMRN. Meeder Asset Management Inc. increased its position in BioMarin Pharmaceutical by 920.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 663 shares during the last quarter. Quest Partners LLC acquired a new position in BioMarin Pharmaceutical in the third quarter worth approximately $305,000. Swiss National Bank raised its position in BioMarin Pharmaceutical by 0.3% during the third quarter. Swiss National Bank now owns 563,600 shares of the biotechnology company’s stock valued at $39,615,000 after acquiring an additional 1,700 shares in the last quarter. AM Squared Ltd lifted its stake in BioMarin Pharmaceutical by 75.0% in the third quarter. AM Squared Ltd now owns 1,400 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 600 shares during the last quarter. Finally, Simplify Asset Management Inc. grew its position in BioMarin Pharmaceutical by 67.5% in the third quarter. Simplify Asset Management Inc. now owns 8,489 shares of the biotechnology company’s stock worth $597,000 after acquiring an additional 3,422 shares in the last quarter. Institutional investors and hedge funds 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.