BioMarin Pharmaceutical (NASDAQ:BMRN) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued on Thursday.

BMRN has been the subject of a number of other reports. SunTrust Banks set a $115.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Thursday, October 19th. J P Morgan Chase & Co set a $130.00 price target on shares of BioMarin Pharmaceutical and gave the company a “buy” rating in a research report on Sunday, October 29th. Leerink Swann reiterated an “outperform” rating and issued a $142.00 price target (up from $136.00) on shares of BioMarin Pharmaceutical in a research report on Thursday, October 19th. Jefferies Group reiterated a “buy” rating and issued a $116.00 price target on shares of BioMarin Pharmaceutical in a research report on Tuesday, September 26th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $113.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, September 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $112.35.

Shares of BioMarin Pharmaceutical (NASDAQ BMRN) traded down $0.13 during mid-day trading on Thursday, reaching $88.53. 1,218,602 shares of the company’s stock traded hands, compared to its average volume of 1,239,852. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.91 and a quick ratio of 3.81. BioMarin Pharmaceutical has a 1 year low of $80.10 and a 1 year high of $100.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.06. BioMarin Pharmaceutical had a negative net margin of 12.45% and a negative return on equity of 4.60%. The company had revenue of $334.18 million during the quarter, compared to the consensus estimate of $347.38 million. During the same period in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. sell-side analysts anticipate that BioMarin Pharmaceutical will post -0.65 EPS for the current fiscal year.

In related news, EVP George Eric Davis sold 1,200 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $85.64, for a total value of $102,768.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director V Bryan Lawlis sold 3,750 shares of BioMarin Pharmaceutical stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $91.26, for a total transaction of $342,225.00. Following the completion of the transaction, the director now directly owns 19,660 shares in the company, valued at $1,794,171.60. The disclosure for this sale can be found here. Insiders sold 41,886 shares of company stock worth $3,839,086 over the last three months. 1.85% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BMRN. Global X Management Co. LLC grew its stake in shares of BioMarin Pharmaceutical by 16.8% during the second quarter. Global X Management Co. LLC now owns 1,935 shares of the biotechnology company’s stock worth $176,000 after buying an additional 279 shares during the last quarter. Cigna Investments Inc. New grew its stake in shares of BioMarin Pharmaceutical by 1.5% during the second quarter. Cigna Investments Inc. New now owns 2,377 shares of the biotechnology company’s stock worth $216,000 after buying an additional 36 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of BioMarin Pharmaceutical by 91.4% during the second quarter. Canada Pension Plan Investment Board now owns 138,075 shares of the biotechnology company’s stock worth $12,540,000 after buying an additional 65,939 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of BioMarin Pharmaceutical by 8.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 298,243 shares of the biotechnology company’s stock worth $27,087,000 after buying an additional 22,433 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of BioMarin Pharmaceutical by 8.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 106,296 shares of the biotechnology company’s stock worth $9,654,000 after buying an additional 8,104 shares during the last quarter. 99.25% of the stock is currently owned by hedge funds and other institutional investors.

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BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company. The Company develops and commercializes pharmaceuticals for various diseases and medical conditions. As of December 31, 2016, the Company’s therapy portfolio consisted of five products, and multiple clinical and pre-clinical product candidates. Its commercial products include Aldurazyme (laronidase) for Mucopolysaccharidosis I (MPS I), Firdapse (amifampridine phosphate) for Lambert Eaton Myasthenic Syndrome (LEMS), Kuvan (sapropterin dihydrochloride) for phenylketonuria (PKU), Naglazyme (galsulfase) for Mucopolysaccharidosis VI (MPS VI) and Vimizim (elosulfase alpha) for Mucopolysaccharidosis IV Type A (MPS IV A).

Analyst Recommendations for BioMarin Pharmaceutical (NASDAQ:BMRN)

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