BioMarin Pharmaceutical (NASDAQ:BMRN) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note published on Tuesday,RTT News reports. Wedbush currently has a $94.00 price target on the biotechnology company’s stock.

A number of other equities analysts have also commented on the stock. Zacks Research lowered shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. HC Wainwright lowered their price objective on BioMarin Pharmaceutical from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Stifel Nicolaus reduced their target price on BioMarin Pharmaceutical from $91.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.91.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock opened at $53.49 on Tuesday. The company has a market capitalization of $10.27 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 0.66 and a beta of 0.33. The firm has a fifty day simple moving average of $55.12 and a 200-day simple moving average of $57.20. The company has a current ratio of 5.56, a quick ratio of 3.60 and a debt-to-equity ratio of 0.10. BioMarin Pharmaceutical has a twelve month low of $51.56 and a twelve month high of $73.51.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter valued at approximately $293,000. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of BioMarin Pharmaceutical by 0.7% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 96,969 shares of the biotechnology company’s stock worth $5,252,000 after buying an additional 700 shares during the last quarter. Quent Capital LLC bought a new position in shares of BioMarin Pharmaceutical in the 3rd quarter worth about $28,000. Nordea Investment Management AB boosted its holdings in shares of BioMarin Pharmaceutical by 25.0% in the 3rd quarter. Nordea Investment Management AB now owns 18,679 shares of the biotechnology company’s stock valued at $995,000 after buying an additional 3,735 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in shares of BioMarin Pharmaceutical by 7.8% in the 3rd quarter. New York State Teachers Retirement System now owns 115,991 shares of the biotechnology company’s stock valued at $6,282,000 after buying an additional 8,386 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

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.