BioMarin Pharmaceutical (NASDAQ:BMRN) Downgraded to "Buy" Rating by 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 issued to investors on Tuesday morning.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $70.00 target price on shares of BioMarin Pharmaceutical in a research report on Thursday, February 20th. Wedbush restated an "outperform" rating and set a $94.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a "market perform" rating to an "outperform" rating and set a $98.00 price objective on the stock in a research note on Monday, February 24th. Bank of America boosted their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Finally, Citigroup raised their price target on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a "neutral" rating 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, the company has an average rating of "Moderate Buy" and a consensus price target of $94.00.

BioMarin Pharmaceutical Trading Down 10.7 %

Shares of BMRN traded down $7.22 during mid-day trading on Tuesday, reaching $60.26. 3,545,266 shares of the company were exchanged, compared to its average volume of 1,861,965. The business has a 50 day simple moving average of $67.95 and a two-hundred day simple moving average of $67.22. 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 stock has a market capitalization of $11.50 billion, a PE ratio of 27.39, a PEG ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical has a 52 week low of $59.99 and a 52 week high of $94.85.

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

Insider Activity at BioMarin Pharmaceutical

In other BioMarin Pharmaceutical news, CAO Erin Burkhart sold 1,295 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $71.52, for a total value of $92,618.40. Following the sale, the chief accounting officer now directly owns 16,955 shares in the company, valued at $1,212,621.60. The trade was a 7.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Norges Bank purchased a new stake in BioMarin Pharmaceutical during the fourth quarter valued at about $234,645,000. Capital Research Global Investors lifted its stake in shares of BioMarin Pharmaceutical by 23.8% during the 4th quarter. Capital Research Global Investors now owns 12,991,772 shares of the biotechnology company's stock valued at $853,944,000 after buying an additional 2,496,817 shares in the last quarter. Soleus Capital Management L.P. bought a new position in BioMarin Pharmaceutical in the 4th quarter worth approximately $65,822,000. Dodge & Cox grew its stake in BioMarin Pharmaceutical by 6.1% in the 4th quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock valued at $969,270,000 after buying an additional 847,917 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings 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 valued at $84,371,000 after acquiring an additional 685,099 shares during the period. Hedge funds and other institutional investors own 98.71% of the company's stock.

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.