BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded by StockNews.com to “Strong-Buy” Rating

BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on BMRN. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price for the company in a report on Monday, February 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. UBS Group boosted their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Piper Sandler raised their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $71.32 on Tuesday. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. The firm has a market cap of $13.61 billion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The company’s 50 day moving average is $66.44 and its two-hundred day moving average is $68.40.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (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 analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, research analysts expect that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the firm’s stock in a transaction 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 owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of large investors have recently added to or reduced their stakes in BMRN. LRI Investments LLC raised 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 worth $32,000 after acquiring an additional 437 shares during the last quarter. TD Private Client Wealth LLC grew its position 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 last quarter. SBI Securities Co. Ltd. purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC raised its position in shares of 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 purchasing an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of BioMarin Pharmaceutical by 920.8% during 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 last quarter. 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.