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

BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other brokerages also recently issued reports on BMRN. UBS Group boosted their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America boosted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI cut their target price 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. Royal Bank of Canada reissued a “sector perform” rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday. Finally, Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.81.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ:BMRN opened at $68.25 on Friday. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85. The stock has a fifty day moving average of $64.84 and a 200-day moving average of $71.05. The company has a market capitalization of $13.01 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 10.10% and a net margin of 14.96%. The company had revenue of $747.31 million during the quarter, compared to the consensus estimate of $711.05 million. As a group, equities analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in BioMarin Pharmaceutical by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company’s stock valued at $1,273,334,000 after acquiring an additional 93,531 shares during the period. Primecap Management Co. CA lifted its stake in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company’s stock valued at $1,326,192,000 after buying an additional 77,350 shares during the period. Dodge & Cox lifted its stake in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company’s stock valued at $969,270,000 after buying an additional 847,917 shares during the period. Capital Research Global Investors lifted its stake in shares of BioMarin Pharmaceutical by 23.8% in the fourth quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company’s stock valued at $853,944,000 after buying an additional 2,496,817 shares during the period. Finally, Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at about $234,645,000. 98.71% of the stock is currently owned by institutional investors.

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.