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

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

Several other equities research analysts have also recently weighed in on BMRN. UBS Group upped their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research 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 report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America boosted their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 3.9 %

NASDAQ:BMRN traded down $2.75 during midday trading on Tuesday, hitting $67.94. The stock had a trading volume of 1,287,929 shares, compared to its average volume of 1,845,502. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $67.75 and a 200 day moving average of $67.30. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, sell-side 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 1,295 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the company. LRI Investments LLC boosted its holdings in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 437 shares during the period. TD Private Client Wealth LLC boosted its stake in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $36,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after buying an additional 233 shares during the period. 98.71% of the stock is 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.