BioMarin Pharmaceutical (NASDAQ:BMRN) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report issued on Thursday morning,RTT News reports. They currently have a $94.00 target price on the biotechnology company’s stock.

Other equities analysts have also issued reports about the company. William Blair lowered BioMarin Pharmaceutical from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 30th. Scotiabank boosted their price objective on BioMarin Pharmaceutical from $78.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday. Citigroup boosted their price objective on BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of BioMarin Pharmaceutical in a report on Thursday. Finally, Bank of America boosted their price objective on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the company a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.81.

BioMarin Pharmaceutical Price Performance

Shares of BMRN opened at $68.73 on Thursday. BioMarin Pharmaceutical has a 52-week low of $60.63 and a 52-week high of $94.85. 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’s 50 day moving average price is $64.79 and its two-hundred day moving average price is $71.06. The firm has a market cap of $13.10 billion, a PE ratio of 41.16, a price-to-earnings-growth ratio of 0.57 and a beta of 0.28.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a return on equity of 8.53% and a net margin of 11.71%. The firm had revenue of $747.31 million for the quarter, compared to analyst estimates of $711.05 million. On average, equities analysts anticipate that BioMarin Pharmaceutical will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Merit Financial Group LLC purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $317,000. Assenagon Asset Management S.A. lifted its position in shares of BioMarin Pharmaceutical by 461.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 611,667 shares of the biotechnology company’s stock valued at $40,205,000 after buying an additional 502,695 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $430,000. Swedbank AB lifted its position in shares of BioMarin Pharmaceutical by 11.2% during the 4th quarter. Swedbank AB now owns 432,122 shares of the biotechnology company’s stock valued at $28,403,000 after buying an additional 43,593 shares during the last quarter. Finally, EULAV Asset Management lifted its position in shares of BioMarin Pharmaceutical by 12.9% during the 3rd quarter. EULAV Asset Management now owns 131,000 shares of the biotechnology company’s stock valued at $9,208,000 after buying an additional 15,000 shares during the last quarter. 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.