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

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

A number of other equities research analysts have also recently issued reports on BMRN. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday. Bank of America increased their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday. William Blair cut shares of BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $93.81.

BioMarin Pharmaceutical Trading Down 0.7 %

Shares of BMRN stock opened at $68.25 on Friday. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. The stock has a market cap of $13.01 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 0.61 and a beta of 0.28. 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 firm has a fifty day moving average of $64.88 and a 200-day moving average of $70.96.

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 analysts’ consensus estimates 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. On average, equities research analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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