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

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

A number of other research firms have also recently weighed in on BMRN. Bank of America raised their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Citigroup increased their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Scotiabank boosted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Finally, Oppenheimer raised shares of 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 analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Stock Down 3.9 %

Shares of BioMarin Pharmaceutical stock traded down $2.75 on Tuesday, reaching $67.94. 1,287,929 shares of the company were exchanged, compared to its average volume of 1,845,502. The stock’s 50 day moving average price is $67.75 and its 200-day moving average price is $67.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a market cap of $12.96 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. As a group, equities analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling 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 shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the sale, the chief accounting officer now directly owns 13,105 shares in the company, valued at $896,119.90. The trade was a 9.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in BMRN. Oregon Public Employees Retirement Fund grew its position in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after purchasing an additional 164 shares during the last quarter. Fifth Third Bancorp grew its holdings in BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after buying an additional 165 shares during the last quarter. Freedom Investment Management Inc. grew its holdings in BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock valued at $330,000 after buying an additional 184 shares during the last quarter. TD Private Client Wealth LLC raised its holdings 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 worth $36,000 after acquiring an additional 186 shares during the last quarter. Finally, First Hawaiian Bank lifted its position in shares of BioMarin Pharmaceutical by 1.4% in the fourth quarter. First Hawaiian Bank now owns 14,700 shares of the biotechnology company’s stock valued at $966,000 after acquiring an additional 200 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

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.