BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $114.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price increased by Barclays from $111.00 to $114.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on BMRN. William Blair upgraded BioMarin Pharmaceutical to a “hold” rating in a research note on Wednesday, September 23rd. UBS Group set a $88.00 price objective on BioMarin Pharmaceutical in a research note on Wednesday, August 26th. Weiss Ratings downgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. BMO Capital Markets reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a report on Wednesday, September 16th. Finally, Morgan Stanley raised their target price on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.87.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $54.68 on Wednesday. The stock’s 50-day moving average is $63.01 and its two-hundred day moving average is $58.66. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 0.39 and a beta of 0.22. BioMarin Pharmaceutical has a 1 year low of $49.26 and a 1 year high of $70.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%. The business had revenue of $989.71 million for the quarter, compared to analysts’ expectations of $932.03 million. During the same quarter in the previous year, the firm earned $1.44 earnings per share. The business’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. Analysts predict that BioMarin Pharmaceutical will post 4.10 earnings per share for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently made changes to their positions in the business. Primecap Management Co. CA purchased a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $811,962,000. Caisse de depot et placement du Quebec acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth approximately $70,749,000. Bank of New York Mellon Corp purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $66,107,000. River Road Asset Management LLC purchased a new position in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $53,865,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at approximately $39,312,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company that develops and commercializes therapies for rare and serious genetic diseases. The company focuses on conditions with limited treatment options, using approaches that include enzyme replacement therapy, small-molecule medicines, biologics and gene therapy.

Its products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for CLN2 disease, Palynziq and Kuvan for phenylketonuria, and Voxzogo for children with achondroplasia and open growth plates.