BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Rating Lowered by Wall Street Zen

BioMarin Pharmaceutical (NASDAQ:BMRN) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other brokerages have also issued reports on BMRN. UBS Group assumed coverage on shares of BioMarin Pharmaceutical in a report on Thursday, October 15th. They issued a “buy” rating and a $88.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 16th. Oppenheimer increased their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Canaccord Genuity Group boosted their price objective on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, Morgan Stanley decreased their price target on shares of BioMarin Pharmaceutical from $124.00 to $122.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average target price of $88.38.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $58.51 on Friday. The stock has a market cap of $11.33 billion, a PE ratio of 158.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.21. BioMarin Pharmaceutical has a 1 year low of $49.26 and a 1 year high of $70.98. The stock has a 50-day moving average price of $60.62 and a two-hundred day moving average price of $58.44. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $989.71 million during the quarter, compared to analysts’ expectations of $932.03 million. During the same quarter last year, the company posted $1.44 EPS. BioMarin Pharmaceutical’s quarterly 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. Equities analysts forecast that BioMarin Pharmaceutical will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in shares of BioMarin Pharmaceutical by 70.3% during the second quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 187 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical in the second quarter worth about $39,000. Keating Financial Advisory Services Inc. purchased a new stake in BioMarin Pharmaceutical during the second quarter worth $56,000. Root Financial Partners LLC acquired a new position in BioMarin Pharmaceutical in the 3rd quarter worth about $88,000. Finally, Parallel Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 33.9% in the first quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 448 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.