BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a strong-buy rating in a report released on Monday.

Several other research firms also recently issued reports on BMRN. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Bank of America increased their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Citigroup increased their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Oppenheimer upgraded BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research report on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $70.54 on Monday. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 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 business’s 50 day simple moving average is $66.08 and its 200 day simple moving average is $69.09. The company has a market cap of $13.46 billion, a price-to-earnings ratio of 32.06, a PEG ratio of 0.61 and a beta of 0.33.

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

Insider Transactions at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was 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 in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. LRI Investments LLC increased 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 purchasing an additional 437 shares during the period. TD Private Client Wealth LLC boosted its position in BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in BioMarin Pharmaceutical during the 4th quarter valued at approximately $36,000. CIBC Private Wealth Group LLC boosted its position 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 valued at $41,000 after acquiring an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.