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

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Thursday.

BMRN has been the topic of a number of other reports. Scotiabank lifted their target price on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price target on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Piper Sandler boosted their price target on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $94.00.

BioMarin Pharmaceutical Price Performance

NASDAQ BMRN traded up $2.85 on Thursday, reaching $61.50. The company's stock had a trading volume of 5,176,019 shares, compared to its average volume of 1,899,776. BioMarin Pharmaceutical has a twelve month low of $52.93 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 firm's 50 day moving average is $66.54 and its two-hundred day moving average is $66.13. The stock has a market cap of $11.73 billion, a PE ratio of 27.95, a PEG ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its 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. The business had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. As a group, sell-side analysts predict that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Buying and Selling at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now owns 16,955 shares in the company, valued at approximately $1,212,621.60. The trade was a 7.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.85% of the company's stock.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of BioMarin Pharmaceutical by 95.9% during the first quarter. Farther Finance Advisors LLC now owns 431 shares of the biotechnology company's stock worth $29,000 after buying an additional 211 shares in the last quarter. LRI Investments LLC increased its holdings in BioMarin Pharmaceutical by 856.9% during the 4th quarter. LRI Investments LLC now owns 488 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 437 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical in the 4th quarter valued at $36,000. MassMutual Private Wealth & Trust FSB boosted its stake in BioMarin Pharmaceutical by 71.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 524 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 218 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of BioMarin Pharmaceutical by 64.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 233 shares during the last quarter. 98.71% of the stock is 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.