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

Key Points

• BioMarin Pharmaceutical has been upgraded to a strong-buy rating by Wall Street Zen, indicating increased confidence in the stock's performance.
• Various analysts have set differing price targets for the stock, with Wolfe Research suggesting a target of $95.00 and UBS Group raising theirs to $114.00.
• The stock is currently trading down 3.3% and has fluctuations in the past year, with its lows at $52.93 and highs at $85.00.

Wall Street Zen upgraded shares of BioMarin Pharmaceutical (NASDAQ:BMRN - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other research firms have also recently weighed in on BMRN. Morgan Stanley reduced their price target on BioMarin Pharmaceutical from $97.00 to $96.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. UBS Group boosted their price target on BioMarin Pharmaceutical from $113.00 to $114.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Wolfe Research set a $95.00 price target on BioMarin Pharmaceutical and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Wedbush restated an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a research report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. raised their price objective on BioMarin Pharmaceutical from $108.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Eighteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $92.04.

BioMarin Pharmaceutical Trading Down 1.8%

Shares of NASDAQ:BMRN traded down $0.95 during midday trading on Friday, hitting $53.14. 1,829,227 shares of the stock were exchanged, compared to its average volume of 1,629,647. The stock has a market capitalization of $10.20 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 0.69 and a beta of 0.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.60 and a current ratio of 5.56. The business's 50-day moving average price is $57.93 and its 200 day moving average price is $60.25. BioMarin Pharmaceutical has a 12 month low of $52.93 and a 12 month high of $78.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Byrne Financial Freedom LLC boosted its holdings in BioMarin Pharmaceutical by 4.4% in the first quarter. Byrne Financial Freedom LLC now owns 3,852 shares of the biotechnology company's stock worth $272,000 after acquiring an additional 161 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in BioMarin Pharmaceutical by 0.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,523 shares of the biotechnology company's stock valued at $1,592,000 after acquiring an additional 197 shares in the last quarter. Securian Asset Management Inc. boosted its stake in BioMarin Pharmaceutical by 1.4% during the 2nd quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company's stock valued at $803,000 after purchasing an additional 197 shares during the last quarter. Sittner & Nelson LLC boosted its stake in BioMarin Pharmaceutical by 6.9% during the 2nd quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company's stock valued at $170,000 after purchasing an additional 200 shares during the last quarter. Finally, Xponance Inc. boosted its stake in BioMarin Pharmaceutical by 0.6% during the 1st quarter. Xponance Inc. now owns 31,877 shares of the biotechnology company's stock valued at $2,253,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 98.71% of the company's stock.

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.