BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

Other research analysts also recently issued research reports about the company. Barclays upped their price objective on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday. HC Wainwright boosted their price target on shares of BioMarin Pharmaceutical from $50.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 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. Oppenheimer raised their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Bank of America lowered their price objective on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.45.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded down $0.35 during midday trading on Monday, reaching $67.01. The company’s stock had a trading volume of 607,938 shares, compared to its average volume of 2,083,183. BioMarin Pharmaceutical has a 12-month low of $49.26 and a 12-month high of $70.98. The firm has a 50 day moving average price of $59.56 and a 200-day moving average price of $57.51. The stock has a market capitalization of $12.97 billion, a P/E ratio of 181.05, a PEG ratio of 0.47 and a beta of 0.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32.

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

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA purchased a new stake in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $811,962,000. Norges Bank bought a new position in shares of BioMarin Pharmaceutical in the fourth quarter worth approximately $447,572,000. Vestal Point Capital LP raised its stake in BioMarin Pharmaceutical by 261.4% in the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock valued at $178,290,000 after purchasing an additional 2,170,000 shares in the last quarter. Viking Global Investors LP lifted its position in BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock valued at $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in BioMarin Pharmaceutical in the 2nd quarter worth approximately $70,749,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

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.