BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at StockNews.com

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

A number of other 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. Bank of America upped 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. Wedbush reiterated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler raised their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Scotiabank upped their price target on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Trading Up 6.3 %

BioMarin Pharmaceutical stock traded up $3.54 during midday trading on Wednesday, reaching $59.43. The stock had a trading volume of 3,582,347 shares, compared to its average volume of 1,884,805. The stock has a market capitalization of $11.34 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock’s 50-day simple moving average is $67.44 and its 200 day simple moving average is $66.80. BioMarin Pharmaceutical has a twelve month low of $52.98 and a twelve month high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its 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. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. Analysts expect that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling

In other news, CAO Erin Burkhart sold 1,295 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the transaction, the chief accounting officer now directly owns 16,955 shares in the company, valued at approximately $1,212,621.60. This trade represents a 7.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC boosted its stake in BioMarin Pharmaceutical by 856.9% in the fourth 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 lifted its position in BioMarin Pharmaceutical by 57.4% in the 3rd 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 last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in BioMarin Pharmaceutical by 71.2% during the 1st 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 during the period. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical in the 4th quarter worth about $36,000. Finally, CIBC Private Wealth Group LLC grew its position in BioMarin Pharmaceutical by 64.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds 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.