BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) to a strong-buy rating in a report issued on Monday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird dropped their target price on shares of BioMarin Pharmaceutical from $72.00 to $65.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. StockNews.com raised shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Thursday, August 8th. William Blair cut shares of BioMarin Pharmaceutical from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered their price target on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating on the stock in a report on Tuesday, September 17th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $94.16.

BioMarin Pharmaceutical Stock Up 0.2 %

BMRN stock traded up $0.11 during mid-day trading on Monday, reaching $66.15. 1,970,060 shares of the company traded hands, compared to its average volume of 1,848,247. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 0.66 and a beta of 0.31. The company has a quick ratio of 2.62, a current ratio of 4.27 and a debt-to-equity ratio of 0.11. BioMarin Pharmaceutical has a fifty-two week low of $65.35 and a fifty-two week high of $99.56. The firm's 50 day moving average price is $73.68 and its 200 day moving average price is $80.10.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.23). BioMarin Pharmaceutical had a net margin of 11.71% and a return on equity of 8.53%. The company had revenue of $746.00 million for the quarter, compared to analyst estimates of $703.37 million. During the same quarter last year, the firm posted $0.26 EPS. BioMarin Pharmaceutical's revenue for the quarter was up 28.4% on a year-over-year basis. As a group, equities research analysts predict that BioMarin Pharmaceutical will post 2.47 EPS for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

Hedge funds have recently added to or reduced their stakes in the business. AGF Management Ltd. bought a new stake in BioMarin Pharmaceutical in the second quarter worth $2,563,000. Susquehanna Fundamental Investments LLC bought a new stake in BioMarin Pharmaceutical in the second quarter worth $5,627,000. Teachers Retirement System of The State of Kentucky lifted its stake in BioMarin Pharmaceutical by 17.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 194,207 shares of the biotechnology company's stock worth $15,990,000 after purchasing an additional 28,837 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in BioMarin Pharmaceutical by 167.4% in the second quarter. E Fund Management Co. Ltd. now owns 13,480 shares of the biotechnology company's stock worth $1,110,000 after purchasing an additional 8,438 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in BioMarin Pharmaceutical by 65.5% in the first quarter. Tidal Investments LLC now owns 17,447 shares of the biotechnology company's stock worth $1,524,000 after purchasing an additional 6,906 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.