BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded by Oppenheimer to “Outperform” Rating

BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a $98.00 price objective on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 43.59% from the stock’s previous close.

Several other brokerages have also recently weighed in on BMRN. StockNews.com raised BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Bank of America increased their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI reduced their price objective on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Scotiabank lifted their target price 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. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Stock Down 0.7 %

Shares of NASDAQ BMRN opened at $68.25 on Monday. The company has a 50 day simple moving average of $64.88 and a 200 day simple moving average of $70.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85. The firm has a market cap of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results 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. The firm had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. On average, research analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently bought and sold shares of BMRN. Merit Financial Group LLC purchased a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $317,000. Assenagon Asset Management S.A. increased its stake in BioMarin Pharmaceutical by 461.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares during the last quarter. Wedmont Private Capital bought a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth approximately $430,000. Swedbank AB boosted its stake in shares of BioMarin Pharmaceutical by 11.2% in the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock worth $28,403,000 after buying an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management grew its stake in BioMarin Pharmaceutical by 12.9% in the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after purchasing an additional 15,000 shares during the period. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.