StockNews.com Upgrades BioMarin Pharmaceutical (NASDAQ:BMRN) to “Strong-Buy”

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a buy rating to a strong-buy rating in a research note published on Monday morning.

Other equities analysts have also recently issued reports about the stock. Oppenheimer upgraded shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target on the stock in a report on Monday, February 24th. Wedbush restated an “outperform” rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They set an “outperform” rating and a $95.00 price target on the stock. Scotiabank upped their price objective on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Bank of America upped their price objective on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 0.3 %

NASDAQ BMRN opened at $72.03 on Monday. BioMarin Pharmaceutical has a twelve month low of $60.63 and a twelve month high of $94.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 0.61 and a beta of 0.33. The firm’s 50 day moving average price is $65.89 and its two-hundred day moving average price is $69.21.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The business had revenue of $747.31 million for the quarter, compared to analysts’ expectations of $711.05 million. Equities analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Erin Burkhart sold 1,344 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the transaction, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This represents a 9.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of 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 buying an additional 93,531 shares during the last quarter. Primecap Management Co. CA raised its position in shares of BioMarin Pharmaceutical by 0.4% during 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 last quarter. Dodge & Cox raised its position in shares of BioMarin Pharmaceutical by 6.1% during 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 last quarter. Capital Research Global Investors raised its position in shares of BioMarin Pharmaceutical by 23.8% during 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 last quarter. Finally, Norges Bank acquired a new position in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $234,645,000. Institutional investors and hedge funds 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.