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

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities analysts also recently issued reports on BMRN. Scotiabank upped their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $70.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Piper Sandler boosted their price objective on BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. UBS Group raised their target price on shares of BioMarin Pharmaceutical from $109.00 to $113.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Bank of America upped their price target on shares of BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Seven analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.00.

BioMarin Pharmaceutical Stock Up 0.6 %

Shares of NASDAQ BMRN opened at $59.17 on Thursday. The business has a 50-day moving average of $66.74 and a two-hundred day moving average of $66.27. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.30. BioMarin Pharmaceutical has a 1 year low of $52.93 and a 1 year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its earnings results 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 for the quarter, compared to analyst estimates of $711.05 million. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. On average, analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Transactions at BioMarin Pharmaceutical

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

Institutional Investors Weigh In On BioMarin Pharmaceutical

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its position in BioMarin Pharmaceutical by 56.6% during the first quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company’s stock worth $849,000 after acquiring an additional 4,345 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in BioMarin Pharmaceutical by 12.0% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 35,500 shares of the biotechnology company’s stock valued at $2,509,000 after buying an additional 3,800 shares during the last quarter. Exchange Traded Concepts LLC increased its position in BioMarin Pharmaceutical by 5.2% during the first quarter. Exchange Traded Concepts LLC now owns 19,796 shares of the biotechnology company’s stock worth $1,399,000 after buying an additional 979 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of BioMarin Pharmaceutical by 92.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,584 shares of the biotechnology company’s stock worth $3,152,000 after acquiring an additional 21,383 shares during the last quarter. Finally, Everhart Financial Group Inc. purchased a new stake in shares of BioMarin Pharmaceutical in the first quarter valued at $225,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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.