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 published on Tuesday morning.

BMRN has been the topic of a number of other research reports. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a report on Monday, February 24th. UBS Group raised their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Citigroup raised their target price on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Wedbush restated an “outperform” rating and set a $94.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Up 0.4 %

Shares of BioMarin Pharmaceutical stock opened at $71.60 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The company has a 50-day moving average of $66.50 and a 200 day moving average of $68.42. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 0.61 and a beta of 0.33. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $711.05 million. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of BioMarin Pharmaceutical stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total transaction of $92,618.40. Following the completion of the transaction, the chief accounting officer now directly owns 16,955 shares of the company’s stock, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is owned by insiders.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the period. Primecap Management Co. CA raised its holdings in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after acquiring an additional 77,350 shares in the last quarter. Dodge & Cox raised its holdings in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after acquiring an additional 2,496,817 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $234,645,000. 98.71% of the stock is 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.