BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $88.00 at Piper Sandler

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target upped by equities research analysts at Piper Sandler from $82.00 to $88.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price would suggest a potential upside of 31.33% from the stock’s current price.

Several other equities research analysts have also commented on BMRN. The Goldman Sachs Group started coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a “neutral” rating and a $69.00 target price on the stock. Bank of America cut their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Royal Bank Of Canada decreased their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Finally, HC Wainwright increased their target price on shares of BioMarin Pharmaceutical from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $88.45.

BioMarin Pharmaceutical Stock Performance

BMRN traded down $0.35 on Monday, reaching $67.01. The company had a trading volume of 607,938 shares, compared to its average volume of 2,083,183. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. BioMarin Pharmaceutical has a 1 year low of $49.26 and a 1 year high of $70.98. The stock has a market capitalization of $12.97 billion, a PE ratio of 181.05, a P/E/G ratio of 0.47 and a beta of 0.24. The stock has a 50-day moving average price of $59.56 and a 200-day moving average price of $57.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. The business had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, research analysts forecast that BioMarin Pharmaceutical will post 4.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BMRN. CIBC Private Wealth Group LLC grew its holdings in shares of BioMarin Pharmaceutical by 38.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in BioMarin Pharmaceutical by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 42,982 shares of the biotechnology company’s stock valued at $2,554,000 after purchasing an additional 183 shares during the last quarter. Caerus Investment Advisors LLC increased its holdings in BioMarin Pharmaceutical by 2.8% during the 4th quarter. Caerus Investment Advisors LLC now owns 10,236 shares of the biotechnology company’s stock worth $608,000 after purchasing an additional 278 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of BioMarin Pharmaceutical by 2.4% in the first quarter. Chicago Partners Investment Group LLC now owns 12,183 shares of the biotechnology company’s stock valued at $660,000 after purchasing an additional 290 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the last quarter. 98.71% of the stock is owned by hedge funds and other institutional investors.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company’s commercial portfolio includes several approved therapies targeting inherited disorders.