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

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

A number of other brokerages also recently commented on BMRN. Scotiabank boosted their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. UBS Group boosted their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Bank of America raised their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Citigroup raised their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Seven 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $71.32 on Tuesday. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. 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 stock has a fifty day simple moving average of $66.44 and a two-hundred day simple moving average of $68.40. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 32.42, a P/E/G ratio of 0.61 and a beta of 0.33.

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

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,344 shares of the business’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 value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their ownership of the stock. 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 corporate insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors have recently made changes to their positions in the company. LRI Investments LLC grew its position in 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 buying an additional 437 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BioMarin Pharmaceutical during the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC increased its stake in shares of BioMarin Pharmaceutical by 64.2% in 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 in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings 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 period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.