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

StockNews.com cut shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) from a strong-buy rating to a buy rating in a research note published on Tuesday.

Several other brokerages also recently issued reports on BMRN. Wedbush restated an "outperform" rating and issued a $94.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Scotiabank increased their target price on shares of BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Oppenheimer upgraded BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price target on the stock in a research note on Monday, February 24th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $94.00.

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BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock traded down $7.22 on Tuesday, reaching $60.26. 3,545,266 shares of the stock were exchanged, compared to its average volume of 1,855,047. The company has a current ratio of 5.33, a quick ratio of 2.62 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a twelve month low of $60.02 and a twelve month high of $94.85. The firm has a fifty day moving average price of $67.98 and a two-hundred day moving average price of $67.31. The stock has a market cap of $11.50 billion, a PE ratio of 27.39, a PEG ratio of 0.61 and a beta of 0.30.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.18. The business had revenue of $747.31 million during the quarter, compared to analysts' expectations of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. Sell-side analysts anticipate that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Activity

In other news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now directly owns 13,105 shares of the company's stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in BMRN. Norges Bank acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $234,645,000. Capital Research Global Investors boosted its stake in BioMarin Pharmaceutical by 23.8% in 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 acquiring an additional 2,496,817 shares during the last quarter. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical in the fourth quarter valued at approximately $65,822,000. Dodge & Cox grew its position in shares of BioMarin Pharmaceutical by 6.1% during the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after buying an additional 847,917 shares during the period. Finally, AQR Capital Management LLC boosted its stake in BioMarin Pharmaceutical by 114.5% during the 4th quarter. AQR Capital Management LLC now owns 1,283,599 shares of the biotechnology company's stock worth $84,371,000 after acquiring an additional 685,099 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

About BioMarin Pharmaceutical

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.