BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $105.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target increased by Jefferies Financial Group from $104.00 to $105.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

BMRN has been the topic of several other research reports. Weiss Ratings cut BioMarin Pharmaceutical from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Barclays raised their price objective on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. Wall Street Zen upgraded BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Citigroup upped their target price on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, UBS Group set a $88.00 target price on BioMarin Pharmaceutical in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

BioMarin Pharmaceutical Trading Up 3.3%

BMRN opened at $66.97 on Monday. The firm’s 50 day moving average is $62.24 and its 200-day moving average is $58.27. BioMarin Pharmaceutical has a 52-week low of $49.26 and a 52-week high of $70.98. 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 firm has a market capitalization of $12.96 billion, a P/E ratio of 181.00, a P/E/G ratio of 0.46 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.25. The business had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Analysts expect that BioMarin Pharmaceutical will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently modified their holdings of the stock. Primecap Management Co. CA acquired a new position in BioMarin Pharmaceutical in the second quarter worth about $811,962,000. California State Teachers Retirement System raised its stake in BioMarin Pharmaceutical by 5,328.0% during the second quarter. California State Teachers Retirement System now owns 11,662,523 shares of the biotechnology company’s stock valued at $667,330,000 after buying an additional 11,447,664 shares in the last quarter. Norges Bank acquired a new stake in BioMarin Pharmaceutical during the fourth quarter valued at approximately $447,572,000. Vestal Point Capital LP lifted its holdings in BioMarin Pharmaceutical by 261.4% during the 4th quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock worth $178,290,000 after buying an additional 2,170,000 shares during the last quarter. Finally, Viking Global Investors LP lifted its holdings in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after buying an additional 1,488,552 shares during the last quarter. 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.