BioMarin Pharmaceutical (NASDAQ:BMRN) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) from a hold rating to a buy rating in a research report report published on Friday morning.

BMRN has been the subject of a number of other reports. Morgan Stanley upgraded shares of BioMarin Pharmaceutical from an equal weight rating to an overweight rating and lifted their price objective for the company from $96.00 to $113.00 in a report on Monday, April 25th. Truist Financial boosted their price target on shares of BioMarin Pharmaceutical from $125.00 to $135.00 in a report on Monday, January 10th. Stifel Nicolaus restated a buy rating and set a $96.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday. Wedbush cut their price target on shares of BioMarin Pharmaceutical from $155.00 to $147.00 in a report on Thursday, April 28th. Finally, Jefferies Financial Group restated a buy rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $111.93.

Shares of BMRN traded down $2.71 during midday trading on Friday, reaching $79.26. 840,871 shares of the stock were exchanged, compared to its average volume of 1,088,642. BioMarin Pharmaceutical has a twelve month low of $71.59 and a twelve month high of $94.20. The company has a quick ratio of 2.77, a current ratio of 4.88 and a debt-to-equity ratio of 0.25. The company has a market cap of $14.66 billion, a P/E ratio of 440.33, a PEG ratio of 1.78 and a beta of 0.41. The stock’s 50 day simple moving average is $80.24 and its 200 day simple moving average is $83.57.

BioMarin Pharmaceutical (NASDAQ:BMRNGet Rating) last posted its earnings results on Wednesday, April 27th. The biotechnology company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.48. BioMarin Pharmaceutical had a net margin of 2.09% and a return on equity of 1.36%. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, analysts predict that BioMarin Pharmaceutical will post 0.94 earnings per share for the current year.

In other news, CFO Brian Mueller sold 11,800 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $84.50, for a total value of $997,100.00. Following the completion of the transaction, the chief financial officer now directly owns 38,639 shares of the company’s stock, valued at $3,264,995.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Eric Davis sold 15,347 shares of the firm’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $80.38, for a total value of $1,233,591.86. Following the completion of the transaction, the executive vice president now directly owns 66,339 shares of the company’s stock, valued at $5,332,328.82. The disclosure for this sale can be found here. Insiders sold 121,727 shares of company stock valued at $9,945,029 over the last ninety days. Corporate insiders own 1.75% of the company’s stock.

A number of large investors have recently bought and sold shares of BMRN. Ancora Advisors LLC boosted its stake in BioMarin Pharmaceutical by 466.7% during the third quarter. Ancora Advisors LLC now owns 425 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 350 shares during the period. Spire Wealth Management boosted its stake in BioMarin Pharmaceutical by 59.7% during the fourth quarter. Spire Wealth Management now owns 377 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 141 shares during the period. Liberty Wealth Management LLC boosted its stake in BioMarin Pharmaceutical by 181.7% during the third quarter. Liberty Wealth Management LLC now owns 431 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 278 shares during the period. CWM LLC boosted its stake in BioMarin Pharmaceutical by 435.2% during the first quarter. CWM LLC now owns 487 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 396 shares during the period. Finally, Desjardins Global Asset Management Inc. purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $53,000. 95.45% of the stock is owned by institutional investors.

BioMarin Pharmaceutical Company Profile (Get Rating)

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.

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