BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Lowered by StockNews.com

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Other analysts have also recently issued research reports about the stock. Bank of America raised their target price on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Piper Sandler lifted their price target on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Citigroup raised their target price on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Finally, Wedbush restated an “outperform” rating and issued a $94.00 target price on shares of BioMarin Pharmaceutical in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Stock Performance

NASDAQ:BMRN opened at $68.32 on Tuesday. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week 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 company has a 50 day moving average price of $67.88 and a 200 day moving average price of $67.30. The stock has a market capitalization of $13.03 billion, a P/E ratio of 31.05, a PEG ratio of 0.61 and a beta of 0.33.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its 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. The company had revenue of $747.31 million for 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%. Equities research analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Insider Activity at BioMarin Pharmaceutical

In other news, CAO Erin Burkhart sold 1,295 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 16,955 shares in the company, valued at $1,212,621.60. This trade represents 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. Company insiders own 1.85% of the company’s stock.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC lifted its holdings in BioMarin Pharmaceutical by 856.9% in 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. TD Private Client Wealth LLC grew its holdings in BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 186 shares during the period. SBI Securities Co. Ltd. acquired a new position in BioMarin Pharmaceutical during the fourth quarter worth approximately $36,000. MassMutual Private Wealth & Trust FSB raised its stake in BioMarin Pharmaceutical by 71.2% during 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 during the period. Finally, CIBC Private Wealth Group LLC raised its stake in 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 period. Hedge funds and other 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.