BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $87.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective increased by JPMorgan Chase & Co. from $86.00 to $87.00 in a research note published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on the company. UBS Group started coverage on BioMarin Pharmaceutical in a research report on Thursday, October 15th. They issued a “buy” rating and a $88.00 target price for the company. William Blair upgraded BioMarin Pharmaceutical to a “hold” rating in a report on Wednesday, September 23rd. Royal Bank Of Canada lowered their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Wednesday, September 16th. Finally, Weiss Ratings lowered shares of BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. Three investment analysts have 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 stock. According to MarketBeat.com, BioMarin Pharmaceutical currently has an average rating of “Moderate Buy” and a consensus price target of $88.60.

BioMarin Pharmaceutical Stock Performance

BioMarin Pharmaceutical stock opened at $56.63 on Tuesday. The stock has a market cap of $10.96 billion, a PE ratio of 32.86, a P/E/G ratio of 0.41 and a beta of 0.22. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $61.93 and its two-hundred day moving average price is $58.67. BioMarin Pharmaceutical has a 12-month low of $49.26 and a 12-month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings data 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. The business had revenue of $989.71 million during the quarter, compared to analysts’ expectations of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, analysts expect that BioMarin Pharmaceutical will post 3.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust lifted its stake in shares of BioMarin Pharmaceutical by 70.3% in 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 period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter valued at approximately $39,000. Keating Financial Advisory Services Inc. bought a new position in BioMarin Pharmaceutical during the 2nd quarter worth approximately $56,000. Root Financial Partners LLC bought a new position in BioMarin Pharmaceutical during the 3rd quarter worth approximately $88,000. Finally, Parallel Advisors LLC raised its holdings in BioMarin Pharmaceutical by 33.9% during the 1st quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 448 shares during the last quarter. 98.71% of the stock is currently owned by 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.