BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Cut to $59.00 by Analysts at HC Wainwright

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price cut by analysts at HC Wainwright from $60.00 to $59.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential downside of 13.49% from the stock’s previous close.

Several other equities analysts also recently commented on BMRN. Piper Sandler upped their price target on shares of BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price objective on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Sanford C. Bernstein cut their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Canaccord Genuity Group increased their target price on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Bank of America decreased their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.41.

BioMarin Pharmaceutical Stock Performance

Shares of NASDAQ BMRN traded up $1.56 during trading hours on Tuesday, reaching $68.20. 184,093 shares of the stock were exchanged, compared to its average volume of 2,082,153. The firm has a market capitalization of $13.20 billion, a price-to-earnings ratio of 184.27, a P/E/G ratio of 0.47 and a beta of 0.24. The stock’s fifty day simple moving average is $59.76 and its 200 day simple moving average is $57.58. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The firm had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Sell-side analysts predict that BioMarin Pharmaceutical will post 4.22 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently modified their holdings of BMRN. Primecap Management Co. CA bought a new position in BioMarin Pharmaceutical in the second quarter valued at about $811,962,000. Norges Bank bought a new stake in shares of BioMarin Pharmaceutical during the fourth quarter worth about $447,572,000. Vestal Point Capital LP grew its holdings in shares of BioMarin Pharmaceutical by 261.4% during the fourth quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company’s stock worth $178,290,000 after purchasing an additional 2,170,000 shares during the last quarter. Viking Global Investors LP grew its holdings in shares of BioMarin Pharmaceutical by 13.8% during the second quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company’s stock worth $675,505,000 after purchasing an additional 1,488,552 shares during the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at approximately $70,749,000. 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.