BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Increased to Strong-Buy at Wall Street Zen

by · The Cerbat Gem

BioMarin Pharmaceutical (NASDAQ:BMRN – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Several other equities research analysts also recently issued reports on BMRN. HC Wainwright started coverage on BioMarin Pharmaceutical in a research report on Monday, September 8th. They set a “neutral” rating and a $60.00 target price on the stock. Wolfe Research set a $95.00 target price on BioMarin Pharmaceutical and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Raymond James Financial started coverage on BioMarin Pharmaceutical in a research report on Wednesday, September 3rd. They set an “outperform” rating and a $85.00 target price on the stock. JPMorgan Chase & Co. increased their target price on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Zacks Research cut shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Eighteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.04.

Read Our Latest Analysis on BMRN

BioMarin Pharmaceutical Trading Down 3.3%

NASDAQ:BMRN opened at $54.09 on Friday. The company has a market cap of $10.39 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.69 and a beta of 0.35. The stock’s fifty day moving average price is $58.02 and its two-hundred day moving average price is $60.38. BioMarin Pharmaceutical has a 1 year low of $52.93 and a 1 year high of $85.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.56 and a quick ratio of 3.60.

Institutional Trading of BioMarin Pharmaceutical

A number of large investors have recently modified their holdings of BMRN. Vestal Point Capital LP increased its stake in BioMarin Pharmaceutical by 115.0% in the fourth quarter. Vestal Point Capital LP now owns 860,000 shares of the biotechnology company’s stock valued at $56,528,000 after acquiring an additional 460,000 shares during the last quarter. GAMMA Investing LLC increased its stake in BioMarin Pharmaceutical by 154.0% in the first quarter. GAMMA Investing LLC now owns 3,129 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 1,897 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in BioMarin Pharmaceutical by 12.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 97,261 shares of the biotechnology company’s stock valued at $6,875,000 after acquiring an additional 10,687 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in BioMarin Pharmaceutical by 5.3% in the first quarter. Asset Management One Co. Ltd. now owns 80,879 shares of the biotechnology company’s stock valued at $5,717,000 after acquiring an additional 4,094 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in BioMarin Pharmaceutical by 56.6% in the first quarter. Janney Montgomery Scott LLC now owns 12,016 shares of the biotechnology company’s stock valued at $849,000 after acquiring an additional 4,345 shares during the last quarter. Institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

(Get Free Report)

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.

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