BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at 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 report released on Tuesday.

Other analysts have also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wedbush reissued an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock opened at $71.55 on Tuesday. 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 company has a 50-day simple moving average of $66.31 and a two-hundred day simple moving average of $68.51. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33.

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 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 business had revenue of $747.31 million during the quarter, compared to analysts’ expectations of $711.05 million. Analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Transactions at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,344 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $68.38, for a total value of $91,902.72. Following the transaction, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. The trade was a 9.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund lifted its position in shares of BioMarin Pharmaceutical by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock valued at $2,546,000 after acquiring an additional 164 shares during the period. Fifth Third Bancorp lifted its position in shares of BioMarin Pharmaceutical by 13.9% during the 4th quarter. Fifth Third Bancorp now owns 1,351 shares of the biotechnology company’s stock valued at $89,000 after acquiring an additional 165 shares during the period. Advisors Asset Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 1.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock valued at $805,000 after acquiring an additional 180 shares during the period. Freedom Investment Management Inc. lifted its position in shares of BioMarin Pharmaceutical by 3.8% during the 4th quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock valued at $330,000 after acquiring an additional 184 shares during the period. Finally, TD Private Client Wealth LLC lifted its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd 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 during the period. 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.