BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Upgraded by StockNews.com

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

A number of other analysts have also recently commented on the stock. Citigroup lowered their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on shares of BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an “outperform” rating and a $95.00 target price for the company. Evercore ISI lowered their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Wedbush raised shares of BioMarin Pharmaceutical to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Performance

BMRN stock traded up $0.05 during trading on Tuesday, reaching $63.55. The company had a trading volume of 776,483 shares, compared to its average volume of 1,538,766. The firm has a 50-day simple moving average of $64.94 and a 200-day simple moving average of $71.93. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of 0.57 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 4.27. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMRN. GAMMA Investing LLC increased its holdings in BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares in the last quarter. CWM LLC increased its holdings in BioMarin Pharmaceutical by 363.1% in the 3rd quarter. CWM LLC now owns 11,106 shares of the biotechnology company’s stock worth $781,000 after acquiring an additional 8,708 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in BioMarin Pharmaceutical by 437.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,720 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 1,400 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in BioMarin Pharmaceutical by 87.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 16,663 shares of the biotechnology company’s stock worth $1,171,000 after acquiring an additional 7,760 shares in the last quarter. Finally, Creative Planning increased its holdings in BioMarin Pharmaceutical by 20.9% in the 3rd quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock worth $1,005,000 after acquiring an additional 2,475 shares in the last quarter. Hedge funds and other 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.