BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded by StockNews.com to "Strong-Buy" Rating

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

Several other analysts have also commented on the company. Wolfe Research started coverage on BioMarin Pharmaceutical in a research note on Friday, November 15th. They issued an "outperform" rating and a $95.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on BioMarin Pharmaceutical from $110.00 to $109.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. UBS Group boosted their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note on Thursday, December 12th. Finally, Citigroup reduced their price objective on BioMarin Pharmaceutical from $93.00 to $81.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $94.20.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN traded up $0.43 on Tuesday, reaching $64.85. 1,048,855 shares of the stock traded hands, compared to its average volume of 1,674,690. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 38.83, a P/E/G ratio of 0.57 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 month high of $94.85. The stock's 50-day moving average price is $64.86 and its 200-day moving average price is $71.56.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in BioMarin Pharmaceutical by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,372,185 shares of the biotechnology company's stock valued at $1,273,334,000 after purchasing an additional 93,531 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of BioMarin Pharmaceutical by 0.4% in the third quarter. Primecap Management Co. CA now owns 18,867,435 shares of the biotechnology company's stock worth $1,326,192,000 after acquiring an additional 77,350 shares in the last quarter. Dodge & Cox increased its holdings in shares of BioMarin Pharmaceutical by 6.1% in the fourth quarter. Dodge & Cox now owns 14,746,235 shares of the biotechnology company's stock worth $969,270,000 after acquiring an additional 847,917 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of 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 worth $853,944,000 after acquiring an additional 2,496,817 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter worth about $234,645,000. 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.