BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price increased by analysts at Canaccord Genuity Group from $111.00 to $114.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 78.66% from the company’s previous close.

Other equities analysts have also issued reports about the company. Oppenheimer raised their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Friday. Citigroup increased their price objective on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Wall Street Zen raised BioMarin Pharmaceutical from a “hold” rating to a “buy” rating in a research note on Saturday. Bank of America decreased their target price on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They set a “neutral” rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

BioMarin Pharmaceutical Stock Performance

BMRN stock opened at $63.81 on Monday. The firm has a 50 day moving average of $58.19 and a two-hundred day moving average of $57.08. BioMarin Pharmaceutical has a 12 month low of $49.26 and a 12 month high of $66.28. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 172.46, a P/E/G ratio of 0.49 and a beta of 0.24. The company has a quick ratio of 1.32, a current ratio of 2.39 and a debt-to-equity ratio of 0.56.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The business had revenue of $989.71 million for 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%. BioMarin Pharmaceutical’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities analysts anticipate that BioMarin Pharmaceutical will post 4.22 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Large investors have recently made changes to their positions in the business. Activest Wealth Management acquired a new position in BioMarin Pharmaceutical during the 4th quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the second quarter valued at about $39,000. CIBC Private Wealth Group LLC lifted its stake in shares of BioMarin Pharmaceutical by 38.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company’s stock valued at $39,000 after buying an additional 179 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at about $40,000. Finally, Parallel Advisors LLC grew its position in BioMarin Pharmaceutical by 62.2% during the third quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company’s stock worth $42,000 after buying an additional 295 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

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.