BioMarin Pharmaceutical (NASDAQ:BMRN) Upgraded at Oppenheimer

Oppenheimer upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN) from a market perform rating to an outperform rating in a research note released on Monday, Marketbeat reports. Oppenheimer currently has $98.00 price target on the biotechnology company’s stock.

Several other research firms have also recently weighed in on BMRN. Bank of America boosted their price target on BioMarin Pharmaceutical from $99.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. StockNews.com raised shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 22nd. Citigroup boosted their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Piper Sandler raised their target price on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.00.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $68.81 on Monday. The company has a 50 day simple moving average of $65.11 and a two-hundred day simple moving average of $70.47. BioMarin Pharmaceutical has a fifty-two week low of $60.63 and a fifty-two week high of $94.85. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33.

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

Insider Activity at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total transaction of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares in the company, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.85% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMRN. LRI Investments LLC lifted its holdings in shares of BioMarin Pharmaceutical by 856.9% in the fourth quarter. LRI Investments LLC now owns 488 shares of the biotechnology company’s stock worth $32,000 after buying an additional 437 shares in the last quarter. TD Private Client Wealth LLC increased 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 valued at $36,000 after acquiring an additional 186 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in BioMarin Pharmaceutical in the 4th quarter worth $36,000. CIBC Private Wealth Group LLC lifted its stake in 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 purchasing an additional 233 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 920.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 735 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 663 shares during the last quarter. 98.71% of the stock is currently owned by institutional investors.

BioMarin Pharmaceutical Company Profile

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.