BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded by StockNews.com to Strong-Buy Rating

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

Other analysts also recently issued reports about the stock. Wolfe Research assumed coverage on shares of BioMarin Pharmaceutical in a research report on Friday, November 15th. They set an “outperform” rating and a $95.00 price objective on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, October 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a research report on Thursday, December 12th. Canaccord Genuity Group cut their price objective on shares of BioMarin Pharmaceutical from $93.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Stock Down 2.2 %

Shares of BioMarin Pharmaceutical stock opened at $64.42 on Tuesday. 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 50-day moving average of $64.94 and a 200 day moving average of $71.74. The firm has a market cap of $12.28 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 0.57 and a beta of 0.28. BioMarin Pharmaceutical has a 1 year low of $60.63 and a 1 year high of $94.85.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $28,000. TD Private Client Wealth LLC boosted its holdings in shares of BioMarin Pharmaceutical by 57.4% in the third quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after buying an additional 186 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in BioMarin Pharmaceutical during the 4th quarter worth approximately $36,000. CIBC Private Wealth Group LLC raised its stake in BioMarin Pharmaceutical by 64.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 596 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 233 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock worth $52,000 after acquiring an additional 663 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.