BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at StockNews.com

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a strong-buy rating in a report issued on Saturday.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Robert W. Baird cut their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price objective on BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. UBS Group boosted their price target 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Trading Up 1.1 %

BMRN opened at $69.00 on Friday. BioMarin Pharmaceutical has a 12-month low of $60.63 and a 12-month high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market capitalization of $13.15 billion, a PE ratio of 31.36, a P/E/G ratio of 0.61 and a beta of 0.28. The firm’s fifty day moving average price is $64.95 and its 200 day moving average price is $70.61.

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, beating analysts’ consensus estimates of $0.54 by $0.18. The business had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, research analysts expect that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently modified their holdings of BMRN. Oregon Public Employees Retirement Fund lifted its position in shares of BioMarin Pharmaceutical by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,738 shares of the biotechnology company’s stock worth $2,546,000 after purchasing an additional 164 shares in the last quarter. Fifth Third Bancorp boosted its stake 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 buying an additional 165 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of BioMarin Pharmaceutical by 0.8% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,105 shares of the biotechnology company’s stock valued at $1,483,000 after acquiring an additional 173 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 1.6% in the third quarter. Advisors Asset Management Inc. now owns 11,451 shares of the biotechnology company’s stock worth $805,000 after acquiring an additional 180 shares during the last quarter. Finally, Freedom Investment Management Inc. raised its holdings in shares of BioMarin Pharmaceutical by 3.8% during the fourth quarter. Freedom Investment Management Inc. now owns 5,022 shares of the biotechnology company’s stock worth $330,000 after acquiring an additional 184 shares in the last quarter. 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.