BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a hold rating to a buy rating in a report published on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 18th. Royal Bank Of Canada decreased their price objective on shares of BioMarin Pharmaceutical from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Tuesday, November 3rd. William Blair upgraded shares of BioMarin Pharmaceutical to a “hold” rating in a research report on Wednesday, September 23rd. Raymond James Financial upgraded shares of BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 target price on the stock in a report on Monday, October 12th. Finally, Citigroup lifted their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $87.91.

BioMarin Pharmaceutical Trading Down 0.1%

Shares of NASDAQ:BMRN opened at $57.13 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.44 and a quick ratio of 1.32. BioMarin Pharmaceutical has a 1 year low of $49.26 and a 1 year high of $70.98. The company has a market cap of $11.07 billion, a P/E ratio of 32.12, a PEG ratio of 0.77 and a beta of 0.21. The stock’s fifty day moving average price is $59.38 and its 200-day moving average price is $58.47.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data on Monday, November 2nd. The biotechnology company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.28. BioMarin Pharmaceutical had a positive return on equity of 5.58% and a negative net margin of 0.52%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $0.12 EPS. BioMarin Pharmaceutical’s revenue for the quarter was up 32.0% on a year-over-year basis. Sell-side analysts expect that BioMarin Pharmaceutical will post 2.20 earnings per share for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Advisor Solutions LLC increased its holdings in BioMarin Pharmaceutical by 61.3% during the third quarter. Focus Advisor Solutions LLC now owns 17,580 shares of the biotechnology company’s stock valued at $1,055,000 after buying an additional 6,681 shares during the last quarter. Boston Partners boosted its stake in shares of BioMarin Pharmaceutical by 44.9% during the 3rd quarter. Boston Partners now owns 222,417 shares of the biotechnology company’s stock worth $13,345,000 after acquiring an additional 68,971 shares during the last quarter. Global Retirement Partners LLC boosted its stake in shares of BioMarin Pharmaceutical by 36.9% during the 3rd quarter. Global Retirement Partners LLC now owns 6,718 shares of the biotechnology company’s stock worth $403,000 after acquiring an additional 1,812 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at $833,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of BioMarin Pharmaceutical by 6.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 60,610 shares of the biotechnology company’s stock valued at $3,637,000 after acquiring an additional 3,500 shares during the period. Hedge funds and other institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical is a biotechnology company focused on developing and commercializing medicines for people with rare genetic diseases. Its work includes research, clinical development, manufacturing and distribution of therapies for conditions that often have limited treatment options. The company’s marketed treatments address disorders including phenylketonuria, mucopolysaccharidosis, late-infantile neuronal ceroid lipofuscinosis, achondroplasia and hemophilia A. Its products include Kuvan and Palynziq for phenylketonuria, Vimizim for Morquio A syndrome, Brineura for CLN2 disease, Voxzogo for achondroplasia and Roctavian for hemophilia A. Founded in 1997 and headquartered in San Rafael, California, BioMarin serves patients and healthcare providers in the United States and international markets, including Europe.