BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $60.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price lifted by HC Wainwright from $59.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential downside of 8.47% from the stock’s previous close.

BMRN has been the subject of several other reports. UBS Group set a $88.00 target price on BioMarin Pharmaceutical in a research report on Wednesday. Weiss Ratings cut BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. BMO Capital Markets assumed coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 19th. They set an “outperform” rating and a $98.00 price objective for the company. Royal Bank Of Canada cut their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group initiated coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They issued a “neutral” rating and a $69.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.83.

BioMarin Pharmaceutical Trading Up 1.4%

BMRN traded up $0.88 during trading on Monday, reaching $65.55. 636,773 shares of the company’s stock were exchanged, compared to its average volume of 2,060,305. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $70.98. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $12.69 billion, a PE ratio of 177.16, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The firm has a fifty day moving average price of $61.70 and a two-hundred day moving average price of $58.15.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. The firm had revenue of $989.71 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities research analysts forecast that BioMarin Pharmaceutical will post 4.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $39,000. CIBC Private Wealth Group LLC boosted its holdings in shares of BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock worth $39,000 after buying an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of BioMarin Pharmaceutical during the 3rd quarter worth approximately $40,000. Parallel Advisors LLC grew its position in shares of BioMarin Pharmaceutical by 62.2% during the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $56,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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.