Wedbush Upgrades BioMarin Pharmaceutical (NASDAQ:BMRN) to “Strong-Buy”

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

A number of other research firms have also recently issued reports on BMRN. Stifel Nicolaus lowered their price target on BioMarin Pharmaceutical from $115.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. StockNews.com raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald cut their price target on BioMarin Pharmaceutical from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Bank of America lowered their price objective on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Citigroup cut their target price on shares of BioMarin Pharmaceutical from $93.00 to $81.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $94.16.

BioMarin Pharmaceutical Stock Up 1.2 %

BMRN opened at $66.94 on Monday. The firm has a market cap of $12.76 billion, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 4.27. The business has a 50 day moving average price of $73.68 and a 200 day moving average price of $80.10. BioMarin Pharmaceutical has a twelve month low of $65.35 and a twelve month high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.23). The firm had revenue of $746.00 million during the quarter, compared to analyst estimates of $703.37 million. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. During the same quarter in the previous year, the firm posted $0.26 earnings per share. BioMarin Pharmaceutical’s quarterly revenue was up 28.4% compared to the same quarter last year. Research analysts forecast that BioMarin Pharmaceutical will post 2.47 EPS for the current year.

Institutional Trading of BioMarin Pharmaceutical

Institutional investors have recently bought and sold shares of the stock. Primecap Management Co. CA lifted its holdings in shares of BioMarin Pharmaceutical by 0.4% during the second quarter. Primecap Management Co. CA now owns 18,790,085 shares of the biotechnology company’s stock valued at $1,546,988,000 after acquiring an additional 76,190 shares during the period. Vanguard Group Inc. increased its position in shares of BioMarin Pharmaceutical by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 18,117,108 shares of the biotechnology company’s stock worth $1,582,348,000 after purchasing an additional 67,046 shares in the last quarter. Avoro Capital Advisors LLC lifted its holdings in BioMarin Pharmaceutical by 4.4% during the 2nd quarter. Avoro Capital Advisors LLC now owns 4,557,416 shares of the biotechnology company’s stock valued at $375,212,000 after purchasing an additional 192,416 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in BioMarin Pharmaceutical by 38.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,034,457 shares of the biotechnology company’s stock valued at $85,178,000 after purchasing an additional 289,953 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in BioMarin Pharmaceutical by 17.7% in the second quarter. DNB Asset Management AS now owns 1,021,054 shares of the biotechnology company’s stock valued at $84,063,000 after buying an additional 153,867 shares in the last quarter. Institutional investors and hedge funds 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.