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

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

Several other brokerages also recently commented on BMRN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group lifted their target price on BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Wedbush reaffirmed an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler lifted their target price on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Scotiabank lifted their target price 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 equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Up 0.1 %

Shares of BMRN stock opened at $70.54 on Monday. The firm has a market capitalization of $13.46 billion, a P/E ratio of 32.06, a P/E/G ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a quick ratio of 2.62, a current ratio of 5.33 and a debt-to-equity ratio of 0.11. The stock’s fifty day simple moving average is $66.08 and its 200 day simple moving average is $69.09.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction that occurred 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 directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors have recently modified their holdings of the business. LRI Investments LLC grew its holdings in shares of 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 in the last quarter. TD Private Client Wealth LLC grew 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 valued at $36,000 after acquiring an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $36,000. CIBC Private Wealth Group LLC lifted its stake in BioMarin Pharmaceutical by 64.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 233 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in BioMarin Pharmaceutical by 920.8% in the third quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

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.