BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $60.00 at HC Wainwright

BioMarin Pharmaceutical (NASDAQ:BMRN) had its price objective increased by research analysts at HC Wainwright from $55.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s price target would indicate a potential downside of 1.88% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of BioMarin Pharmaceutical from $90.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of BioMarin Pharmaceutical in a report on Monday, December 15th. Wolfe Research reissued an “outperform” rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 28th. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $104.00 to $98.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 28th. Finally, Truist Financial decreased their price target on BioMarin Pharmaceutical from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, October 28th. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and a consensus price target of $88.83.

BioMarin Pharmaceutical Stock Up 17.7%

Shares of BMRN opened at $61.15 on Monday. The stock has a 50 day moving average price of $53.67 and a 200 day moving average price of $55.61. BioMarin Pharmaceutical has a one year low of $50.76 and a one year high of $73.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.10 and a current ratio of 4.83. The stock has a market capitalization of $11.75 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 1.02 and a beta of 0.30.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AIA Group Ltd grew its stake in shares of BioMarin Pharmaceutical by 10.1% in the third quarter. AIA Group Ltd now owns 4,097 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 377 shares in the last quarter. Hudson Bay Capital Management LP lifted its stake in BioMarin Pharmaceutical by 31.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 693,894 shares of the biotechnology company’s stock worth $37,581,000 after acquiring an additional 167,474 shares in the last quarter. Allworth Financial LP boosted its holdings in BioMarin Pharmaceutical by 58.9% during the 3rd quarter. Allworth Financial LP now owns 4,201 shares of the biotechnology company’s stock valued at $228,000 after acquiring an additional 1,557 shares during the period. IFP Advisors Inc grew its position in BioMarin Pharmaceutical by 35.7% in the 3rd quarter. IFP Advisors Inc now owns 2,373 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 624 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in BioMarin Pharmaceutical in the 3rd quarter valued at about $372,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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.