BioMarin Pharmaceutical (NASDAQ:BMRN) Downgraded by StockNews.com to “Buy”

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday.

Other equities research analysts have also issued reports about the company. Citigroup increased their price target on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a research report on Monday, February 24th. Bank of America increased their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $71.16 on Friday. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The business’s fifty day moving average is $65.30 and its 200 day moving average is $70.19. 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 has a market cap of $13.58 billion, a P/E ratio of 32.35, a P/E/G ratio of 0.61 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.18. The company had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. 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 1,344 shares of the firm’s stock in a transaction dated 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 owns 13,105 shares in the company, valued at $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BMRN. Mirae Asset Global Investments Co. Ltd. boosted its stake in BioMarin Pharmaceutical by 16.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,404 shares of the biotechnology company’s stock worth $593,000 after purchasing an additional 1,167 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of BioMarin Pharmaceutical by 64.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,861 shares of the biotechnology company’s stock valued at $412,000 after acquiring an additional 2,289 shares during the last quarter. New York State Teachers Retirement System boosted its position in shares of BioMarin Pharmaceutical by 16.3% during the 3rd quarter. New York State Teachers Retirement System now owns 102,081 shares of the biotechnology company’s stock valued at $7,175,000 after acquiring an additional 14,281 shares during the last quarter. F M Investments LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $1,558,000. Finally, Clear Creek Financial Management LLC bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at about $239,000. 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.