BioMarin Pharmaceutical (NASDAQ:BMRN) Earns “Outperform” Rating from Wedbush

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report released on Thursday,RTT News reports. They currently have a $94.00 price target on the biotechnology company’s stock. Wedbush’s price objective suggests a potential upside of 36.77% from the company’s previous close.

Several other analysts also recently commented on BMRN. Bank of America increased their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday. JPMorgan Chase & Co. dropped their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wolfe Research started coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Finally, StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Stock Up 4.8 %

BioMarin Pharmaceutical stock traded up $3.12 during mid-day trading on Thursday, reaching $68.73. The stock had a trading volume of 4,346,721 shares, compared to its average volume of 1,594,604. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The stock’s 50-day simple moving average is $64.79 and its 200-day simple moving average is $71.06. The firm has a market capitalization of $13.10 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.71% and a return on equity of 8.53%. On average, sell-side analysts forecast that BioMarin Pharmaceutical will post 2.5 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Large investors have recently modified their holdings of the business. Mackenzie Financial Corp increased its position in shares of BioMarin Pharmaceutical by 203.4% in the fourth quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock worth $14,504,000 after purchasing an additional 147,927 shares during the last quarter. Forum Financial Management LP purchased a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $298,000. Toronto Dominion Bank grew its stake in BioMarin Pharmaceutical by 3.8% in the 4th quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock worth $1,634,000 after buying an additional 920 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BioMarin Pharmaceutical in the 4th quarter worth $263,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of BioMarin Pharmaceutical by 19.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,055,087 shares of the biotechnology company’s stock valued at $69,351,000 after buying an additional 174,634 shares in the last quarter. 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.