BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $105.00 at Jefferies Financial Group

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price upped by stock analysts at Jefferies Financial Group from $104.00 to $105.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price target indicates a potential upside of 59.62% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $98.00 price target on the stock. Bank of America decreased their price target on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. HC Wainwright lifted their price target on shares of BioMarin Pharmaceutical from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday. Barclays boosted their price objective on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $88.92.

BioMarin Pharmaceutical Stock Up 1.7%

BMRN traded up $1.11 on Monday, hitting $65.78. The company had a trading volume of 795,224 shares, compared to its average volume of 2,061,290. 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 52-week low of $49.26 and a 52-week high of $70.98. The stock has a fifty day simple moving average of $61.70 and a 200-day simple moving average of $58.15. The firm has a market capitalization of $12.73 billion, a P/E ratio of 177.78, a P/E/G ratio of 0.46 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 earnings per share 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 firm had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the prior year, the business earned $1.44 EPS. The business’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, equities analysts expect that BioMarin Pharmaceutical will post 4.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several large investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC grew its position in BioMarin Pharmaceutical by 38.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 179 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BioMarin Pharmaceutical in the second quarter worth about $39,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BioMarin Pharmaceutical in the third quarter worth approximately $40,000. Parallel Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 295 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of BioMarin Pharmaceutical during the second quarter valued at approximately $56,000. 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.