BioMarin Pharmaceutical (NASDAQ:BMRN) Now Covered by BMO Capital Markets

Research analysts at BMO Capital Markets started coverage on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set an “outperform” rating and a $98.00 price target on the biotechnology company’s stock. BMO Capital Markets’ price target suggests a potential upside of 46.29% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Citigroup boosted their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Bank of America dropped their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Royal Bank Of Canada cut their price target on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. Morgan Stanley boosted their price target on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, HC Wainwright decreased their price objective on BioMarin Pharmaceutical from $60.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.83.

BioMarin Pharmaceutical Stock Up 0.5%

Shares of BioMarin Pharmaceutical stock opened at $66.99 on Wednesday. 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 has a 1 year low of $49.26 and a 1 year high of $70.98. The firm’s 50-day moving average is $59.94 and its two-hundred day moving average is $57.65. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 181.05, a PEG ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its 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. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter last year, the firm posted $1.44 EPS. 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. As a group, research analysts expect that BioMarin Pharmaceutical will post 4.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently bought and sold shares of BMRN. Primecap Management Co. CA acquired a new position in BioMarin Pharmaceutical during the 2nd quarter valued at about $811,962,000. Norges Bank acquired a new stake in BioMarin Pharmaceutical in the fourth quarter worth about $447,572,000. Vestal Point Capital LP boosted its holdings 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 worth $178,290,000 after acquiring an additional 2,170,000 shares in the last quarter. Viking Global Investors LP grew its stake in shares of 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 worth $675,505,000 after acquiring an additional 1,488,552 shares during the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter worth about $70,749,000. 98.71% of the stock is owned by hedge funds and other institutional investors.

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.