BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at StockNews.com

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

BMRN has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of BioMarin Pharmaceutical in a research note 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 for the company in a research note on Wednesday, October 30th. Citigroup cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of BioMarin Pharmaceutical from $110.00 to $109.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $80.00 price objective on shares of BioMarin Pharmaceutical in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.20.

BioMarin Pharmaceutical Price Performance

BMRN 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. BioMarin Pharmaceutical has a one year low of $60.63 and a one year high of $94.85. The stock has a market cap of $12.28 billion, a PE ratio of 38.57, a P/E/G ratio of 0.57 and a beta of 0.28. The firm has a 50 day simple moving average of $64.94 and a two-hundred day simple moving average of $71.74.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMRN. nVerses Capital LLC bought a new position in BioMarin Pharmaceutical in the 3rd quarter worth $28,000. TD Private Client Wealth LLC raised its holdings in BioMarin Pharmaceutical by 57.4% in the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in BioMarin Pharmaceutical in the 4th quarter worth $36,000. CIBC Private Wealth Group LLC increased its stake in shares of BioMarin Pharmaceutical by 64.2% in 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 in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of BioMarin Pharmaceutical by 920.8% in 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 in the last quarter. 98.71% of the stock is currently owned by 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.