Analysts Set BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Price Target at $89.17

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has been assigned a consensus rating of “Moderate Buy” from the twenty-three research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, fourteen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $89.1739.

A number of analysts have issued reports on BMRN shares. Oppenheimer raised their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Morgan Stanley increased their price target on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. BMO Capital Markets started coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $98.00 price objective on the stock. Finally, Royal Bank Of Canada lowered 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.

Institutional Trading of BioMarin Pharmaceutical

Several hedge funds and other institutional investors have recently modified their holdings of BMRN. NewEdge Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 11.5% in the 1st quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company’s stock worth $266,000 after buying an additional 388 shares during the period. Empowered Funds LLC raised its holdings in BioMarin Pharmaceutical by 207.4% during the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company’s stock valued at $850,000 after acquiring an additional 8,112 shares during the period. Focus Partners Wealth raised its holdings in BioMarin Pharmaceutical by 70.2% during the 1st quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company’s stock valued at $835,000 after acquiring an additional 4,876 shares during the period. Sivia Capital Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company’s stock worth $244,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of BioMarin Pharmaceutical by 23.5% during the second quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company’s stock worth $34,017,000 after acquiring an additional 117,617 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $64.63 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The firm has a market cap of $12.51 billion, a price-to-earnings ratio of 174.68, a P/E/G ratio of 0.48 and a beta of 0.24. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $70.98. The firm’s 50-day simple moving average is $62.90 and its two-hundred day simple moving average is $58.43.

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

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.