BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $90.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target lifted by Piper Sandler from $88.00 to $90.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts have also issued reports on the company. 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 research note on Tuesday, July 7th. Barclays raised their target price on shares of BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Morgan Stanley boosted their price target on shares of BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Canaccord Genuity Group increased their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and a consensus price target of $89.17.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock opened at $66.43 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.39 and a quick ratio of 1.32. The firm has a market cap of $12.86 billion, a P/E ratio of 179.54, a P/E/G ratio of 0.48 and a beta of 0.24. The firm has a 50 day simple moving average of $62.43 and a 200 day simple moving average of $58.32. BioMarin Pharmaceutical has a fifty-two week low of $49.26 and a fifty-two week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.25. The firm had revenue of $989.71 million for 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%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Sell-side analysts predict that BioMarin Pharmaceutical will post 4.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $66,107,000. Rice Hall James & Associates LLC bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $14,203,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of BioMarin Pharmaceutical in the second quarter worth $39,312,000. Swedbank AB boosted its holdings in BioMarin Pharmaceutical by 70.6% during the fourth quarter. Swedbank AB now owns 796,737 shares of the biotechnology company’s stock worth $47,350,000 after purchasing an additional 329,794 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in BioMarin Pharmaceutical during the second quarter worth $2,804,000. 98.71% of the stock is owned by institutional investors and hedge funds.

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.