BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded by StockNews.com to “Buy”

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Sunday.

BMRN has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating and set a $96.00 price target on shares of BioMarin Pharmaceutical in a report on Tuesday, May 3rd. Piper Sandler raised their price target on BioMarin Pharmaceutical from $121.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, February 24th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price target on shares of BioMarin Pharmaceutical in a report on Wednesday, May 4th. Morgan Stanley raised BioMarin Pharmaceutical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $96.00 to $113.00 in a report on Monday, April 25th. Finally, Wedbush lowered their target price on BioMarin Pharmaceutical from $155.00 to $147.00 in a report on Thursday, April 28th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $111.93.

Shares of BMRN opened at $79.72 on Friday. The business’s fifty day moving average price is $80.46 and its 200 day moving average price is $83.66. BioMarin Pharmaceutical has a 12-month low of $71.59 and a 12-month high of $94.20. The stock has a market capitalization of $14.75 billion, a PE ratio of 442.89, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.88 and a quick ratio of 3.28.

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Rating) last issued its earnings results on Wednesday, April 27th. The biotechnology company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.16. BioMarin Pharmaceutical had a return on equity of 1.36% and a net margin of 2.09%. The firm had revenue of $519.36 million for the quarter, compared to analyst estimates of $505.11 million. During the same period last year, the company earned $0.29 earnings per share. As a group, research analysts anticipate that BioMarin Pharmaceutical will post 0.94 earnings per share for the current fiscal year.

In other BioMarin Pharmaceutical news, CEO Jean Jacques Bienaime sold 15,000 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $77.57, for a total value of $1,163,550.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP George Eric Davis sold 15,347 shares of BioMarin Pharmaceutical stock in a transaction that occurred 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 in the company, valued at $5,332,328.82. The disclosure for this sale can be found here. Insiders sold a total of 131,727 shares of company stock worth $10,786,429 over the last three months. 1.75% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Dupont Capital Management Corp acquired a new position in BioMarin Pharmaceutical in the fourth quarter worth $113,000. Fort Washington Investment Advisors Inc. OH raised its position in shares of BioMarin Pharmaceutical by 93.2% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,143,631 shares of the biotechnology company’s stock worth $101,040,000 after acquiring an additional 551,729 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of BioMarin Pharmaceutical by 8.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the biotechnology company’s stock worth $310,000 after acquiring an additional 286 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of BioMarin Pharmaceutical by 3.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,364 shares of the biotechnology company’s stock worth $1,711,000 after acquiring an additional 615 shares during the last quarter. Finally, Asymmetry Capital Management L.P. bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth $15,703,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

About BioMarin Pharmaceutical (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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