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

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

Several other analysts have also recently issued reports on the stock. Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Evercore ISI reduced their target price on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group reduced their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Stock Down 0.7 %

BMRN opened at $68.25 on Friday. 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 4.27 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $64.84 and a 200 day moving average price of $71.05. The company has a market cap of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28.

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 the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 10.10%. The company had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. Sell-side analysts expect that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised 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 buying an additional 164 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of BioMarin Pharmaceutical by 13.9% in the fourth quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock worth $89,000 after acquiring an additional 165 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of BioMarin Pharmaceutical by 0.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock worth $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after acquiring an additional 180 shares in the last quarter. Finally, Freedom Investment Management Inc. increased its holdings in BioMarin Pharmaceutical by 3.8% in the fourth 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. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.