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

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

Other analysts also recently issued research reports about the company. William Blair downgraded BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their target price on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Evercore ISI decreased their price target on shares of BioMarin Pharmaceutical from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Canaccord Genuity Group dropped their price target on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Finally, UBS Group upped their price target on BioMarin Pharmaceutical from $104.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.20.

BioMarin Pharmaceutical Trading Up 0.1 %

Shares of BMRN opened at $63.55 on Tuesday. BioMarin Pharmaceutical has a 1-year low of $60.63 and a 1-year high of $94.85. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.27 and a quick ratio of 2.62. The company has a market capitalization of $12.11 billion, a P/E ratio of 38.05, a P/E/G ratio of 0.57 and a beta of 0.28. The firm’s 50 day simple moving average is $64.94 and its 200 day simple moving average is $71.93.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in BioMarin Pharmaceutical by 56.1% in the 3rd quarter. GAMMA Investing LLC now owns 782 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 281 shares during the last quarter. CWM LLC increased its holdings in BioMarin Pharmaceutical by 363.1% during the 3rd quarter. CWM LLC now owns 11,106 shares of the biotechnology company’s stock worth $781,000 after purchasing an additional 8,708 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in BioMarin Pharmaceutical by 437.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,720 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 1,400 shares during the period. Exchange Traded Concepts LLC increased its holdings in shares of BioMarin Pharmaceutical by 87.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 16,663 shares of the biotechnology company’s stock valued at $1,171,000 after acquiring an additional 7,760 shares during the period. Finally, Creative Planning raised its stake in shares of BioMarin Pharmaceutical by 20.9% during the 3rd quarter. Creative Planning now owns 14,300 shares of the biotechnology company’s stock worth $1,005,000 after acquiring an additional 2,475 shares in the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.