BioMarin Pharmaceutical (NASDAQ:BMRN) Rating Increased 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 released on Saturday morning.

BMRN has been the topic of a number of other reports. Wedbush reaffirmed an "outperform" rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, August 5th. HC Wainwright assumed coverage on BioMarin Pharmaceutical in a report on Monday, September 8th. They set a "neutral" rating and a $60.00 price objective on the stock. Wolfe Research set a $95.00 target price on shares of BioMarin Pharmaceutical and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Guggenheim upped their target price on shares of BioMarin Pharmaceutical from $101.00 to $106.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, UBS Group upped their price objective on shares of BioMarin Pharmaceutical from $113.00 to $114.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Fourteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and a consensus price target of $92.60.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded up $0.77 during trading on Friday, reaching $55.14. The company's stock had a trading volume of 1,522,397 shares, compared to its average volume of 1,728,583. 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 fifty day moving average price is $57.67 and its 200-day moving average price is $60.06. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.69 and a beta of 0.35. BioMarin Pharmaceutical has a one year low of $52.93 and a one year high of $73.51.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in BMRN. AQR Capital Management LLC grew its position in BioMarin Pharmaceutical by 90.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,580,573 shares of the biotechnology company's stock valued at $306,429,000 after buying an additional 2,654,768 shares during the last quarter. Nuveen LLC purchased a new stake in BioMarin Pharmaceutical in the 1st quarter valued at about $184,475,000. Norges Bank purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $112,352,000. Viking Global Investors LP grew its holdings in shares of BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in BioMarin Pharmaceutical by 212.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,592,963 shares of the biotechnology company's stock worth $112,607,000 after acquiring an additional 1,083,512 shares during the period. 98.71% of the stock is currently owned by hedge funds and other 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.