BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a strong-buy rating to a buy rating in a research note released on Tuesday.

Several other brokerages also recently weighed in on BMRN. Piper Sandler upped their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Wedbush reissued an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group upped their price target on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, Citigroup raised their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $67.48 on Tuesday. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. The stock has a market cap of $12.87 billion, a PE ratio of 30.67, a P/E/G ratio of 0.61 and a beta of 0.30. The firm has a 50-day moving average of $67.98 and a 200-day moving average of $67.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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. The business had revenue of $747.31 million during 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%. On average, sell-side analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the completion of the sale, the chief accounting officer now owns 16,955 shares of the company’s stock, valued at $1,212,621.60. This represents a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC grew its holdings in shares of BioMarin Pharmaceutical by 21.7% in the third quarter. FMR LLC now owns 206,538 shares of the biotechnology company’s stock worth $14,518,000 after purchasing an additional 36,877 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $171,000. Glenmede Trust Co. NA purchased a new position in BioMarin Pharmaceutical during the 3rd quarter valued at about $254,000. Captrust Financial Advisors lifted its holdings in BioMarin Pharmaceutical by 34.1% in the 3rd quarter. Captrust Financial Advisors now owns 10,900 shares of the biotechnology company’s stock worth $766,000 after buying an additional 2,770 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of BioMarin Pharmaceutical in the 3rd quarter worth approximately $2,008,000. 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.