BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $100.00

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price target upped by equities research analysts at Truist Financial from $80.00 to $100.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Truist Financial’s price objective would suggest a potential upside of 68.69% from the stock’s current price.

A number of other brokerages have also weighed in on BMRN. Wedbush reaffirmed an “outperform” rating and set a $94.00 price objective on shares of BioMarin Pharmaceutical in a report on Tuesday, October 28th. Wall Street Zen cut shares of BioMarin Pharmaceutical from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. increased their price target on shares of BioMarin Pharmaceutical from $116.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Leerink Partnrs downgraded shares of BioMarin Pharmaceutical from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, Morgan Stanley dropped their target price on shares of BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, October 28th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.70.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN stock opened at $59.28 on Tuesday. The stock’s 50-day moving average price is $53.81 and its 200 day moving average price is $55.64. The company has a quick ratio of 3.10, a current ratio of 4.83 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $11.39 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.30. BioMarin Pharmaceutical has a 52-week low of $50.76 and a 52-week high of $73.51.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Monday, October 27th. The biotechnology company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.20). The company had revenue of $776.13 million during the quarter, compared to analysts’ expectations of $782.42 million. BioMarin Pharmaceutical had a net margin of 16.82% and a return on equity of 9.53%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. BioMarin Pharmaceutical has set its FY 2025 guidance at 3.500-3.600 EPS. As a group, equities research analysts forecast that BioMarin Pharmaceutical will post 3.15 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Hedge funds have recently modified their holdings of the company. Securian Asset Management Inc. boosted its holdings in shares of BioMarin Pharmaceutical by 1.4% during the second quarter. Securian Asset Management Inc. now owns 14,604 shares of the biotechnology company’s stock worth $803,000 after purchasing an additional 197 shares during the last quarter. Sittner & Nelson LLC lifted its position in BioMarin Pharmaceutical by 6.9% during the second quarter. Sittner & Nelson LLC now owns 3,100 shares of the biotechnology company’s stock worth $170,000 after buying an additional 200 shares during the period. Grandfield & Dodd LLC boosted its stake in BioMarin Pharmaceutical by 1.2% in the 3rd quarter. Grandfield & Dodd LLC now owns 18,967 shares of the biotechnology company’s stock worth $1,027,000 after buying an additional 217 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in BioMarin Pharmaceutical by 3.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 7,151 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 235 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in BioMarin Pharmaceutical by 0.6% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 38,890 shares of the biotechnology company’s stock valued at $2,138,000 after buying an additional 250 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

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.