BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $90.00 Price Target at Piper Sandler

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target raised by Piper Sandler from $88.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price target suggests a potential upside of 38.75% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Sanford C. Bernstein dropped their price target on BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a research report on Monday, May 11th. They issued a “neutral” rating and a $69.00 price objective for the company. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Canaccord Genuity Group raised their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Citigroup lifted their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

BioMarin Pharmaceutical Trading Down 0.6%

BioMarin Pharmaceutical stock traded down $0.36 during mid-day trading on Tuesday, hitting $64.86. 622,088 shares of the company’s stock were exchanged, compared to its average volume of 2,061,387. The firm has a market capitalization of $12.56 billion, a P/E ratio of 175.28, a PEG ratio of 0.46 and a beta of 0.24. BioMarin Pharmaceutical has a fifty-two week low of $49.26 and a fifty-two week high of $70.98. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $61.88 and its 200-day simple moving average is $58.19.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. During the same period in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts anticipate that BioMarin Pharmaceutical will post 4.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rice Hall James & Associates LLC acquired a new stake in shares of BioMarin Pharmaceutical in the second quarter valued at about $14,203,000. Bank of New York Mellon Corp acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at $66,107,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $39,312,000. Swedbank AB raised its holdings in BioMarin Pharmaceutical by 70.6% in the 4th quarter. Swedbank AB now owns 796,737 shares of the biotechnology company’s stock valued at $47,350,000 after acquiring an additional 329,794 shares during the period. Finally, ADAR1 Capital Management LLC bought a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $2,804,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical News Summary

Here are the key news stories impacting BioMarin Pharmaceutical this week:

• Positive Sentiment: BioMarin completed its acquisition of Dutch biotech Alesta Therapeutics, adding ALE1 to its pipeline. ALE1 is a potential first oral treatment for hypophosphatasia, which could provide a longer-term growth opportunity if clinical development and regulatory approvals succeed. BioMarin Announces Close of the Alesta Therapeutics Acquisition
• Positive Sentiment: BioMarin reached a global settlement with Ascendis Pharma over patent disputes involving Yuviwel. Ascendis will pay BioMarin royalties on Yuviwel sales in the United States, European Union, Brazil and South Korea, creating a potential recurring revenue stream while removing litigation uncertainty. BioMarin Announces Global Settlement with Ascendis Pharma
• Positive Sentiment: Jefferies raised its price target on BMRN to $105 from $104 and maintained a Buy rating, signaling confidence in the company’s earnings and pipeline prospects.
• Neutral Sentiment: Analyst reaction is not uniformly bullish. HC Wainwright lifted its target to $60 from $59 but retained a Neutral rating, suggesting the stock’s valuation and execution risks remain important considerations.
• Neutral Sentiment: The acquisition and settlement are strategically positive, but ALE1 still carries clinical and regulatory risks, and the financial contribution from Yuviwel royalties will depend on future commercial sales.

BioMarin Pharmaceutical Company Profile

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.