Morgan Stanley Issues Pessimistic Forecast for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

BioMarin Pharmaceutical (NASDAQ:BMRN) had its target price reduced by equities researchers at Morgan Stanley from $124.00 to $122.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 119.00% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BMRN. Barclays raised their target price on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Oppenheimer upped their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. HC Wainwright reaffirmed a “neutral” rating and issued a $60.00 price target on shares of BioMarin Pharmaceutical in a research note on Thursday, September 10th. Citigroup increased their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Raymond James Financial raised shares of BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price objective on the stock in a research note on Monday, October 12th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.60.

BioMarin Pharmaceutical Trading Down 1.3%

BMRN stock traded down $0.73 during midday trading on Wednesday, reaching $55.71. The stock had a trading volume of 598,027 shares, compared to its average volume of 2,092,969. The business has a fifty day simple moving average of $62.46 and a two-hundred day simple moving average of $58.67. 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 cap of $10.78 billion, a price-to-earnings ratio of 150.63, a PEG ratio of 0.38 and a beta of 0.22. BioMarin Pharmaceutical has a twelve month low of $49.26 and a twelve month high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The company 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%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, research analysts expect that BioMarin Pharmaceutical will post 4.10 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BMRN. Amundi increased its stake in BioMarin Pharmaceutical by 37.8% in the 2nd quarter. Amundi now owns 259,782 shares of the biotechnology company’s stock valued at $14,865,000 after buying an additional 71,246 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at about $14,203,000. Bank of New York Mellon Corp bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $66,107,000. Public Employees Retirement System of Ohio bought a new stake in BioMarin Pharmaceutical during the second quarter worth about $3,461,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in BioMarin Pharmaceutical during the second quarter valued at approximately $39,312,000. Institutional investors and hedge funds own 98.71% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company’s research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin’s marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.