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

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

BMRN has been the topic of a number of other research reports. Wolfe Research began coverage on shares of BioMarin Pharmaceutical in a report on Friday, November 15th. They issued an “outperform” rating and a $95.00 price objective on the stock. Oppenheimer raised BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 price target for the company in a report on Monday, February 24th. Piper Sandler raised 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. Bank of America upped their target price on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Finally, UBS Group raised their price target 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. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

BioMarin Pharmaceutical Trading Down 0.2 %

Shares of BMRN opened at $71.02 on Friday. BioMarin Pharmaceutical has a 12 month low of $60.63 and a 12 month high of $94.85. The stock’s 50-day moving average is $65.40 and its two-hundred day moving average is $69.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.33 and a quick ratio of 2.62. The stock has a market cap of $13.55 billion, a PE ratio of 32.28, a P/E/G ratio of 0.61 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 9.91% and a net margin of 14.96%. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. Equities analysts forecast that BioMarin Pharmaceutical will post 3.15 earnings per share for the current fiscal year.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the transaction, the chief accounting officer now directly owns 13,105 shares of the company’s stock, valued at $896,119.90. This represents a 9.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter valued at about $10,451,000. Polar Asset Management Partners Inc. acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at about $979,000. Mackenzie Financial Corp raised its position in shares of BioMarin Pharmaceutical by 203.4% during the 4th quarter. Mackenzie Financial Corp now owns 220,661 shares of the biotechnology company’s stock worth $14,504,000 after buying an additional 147,927 shares in the last quarter. Forum Financial Management LP acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter worth approximately $298,000. Finally, Toronto Dominion Bank boosted its holdings in shares of BioMarin Pharmaceutical by 3.8% in the fourth quarter. Toronto Dominion Bank now owns 24,862 shares of the biotechnology company’s stock valued at $1,634,000 after acquiring an additional 920 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.