BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) Stock Has Average Price Target of $88.60

Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) have been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $88.38.

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on BioMarin Pharmaceutical from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, October 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $86.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday, October 20th. Morgan Stanley dropped their price objective on shares of BioMarin Pharmaceutical from $124.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Raymond James Financial raised BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price target for the company in a report on Monday, October 12th. Finally, Royal Bank Of Canada cut their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th.

BioMarin Pharmaceutical Stock Performance

BMRN opened at $58.51 on Monday. The firm’s fifty day simple moving average is $60.62 and its two-hundred day simple moving average is $58.44. BioMarin Pharmaceutical has a 52-week low of $49.26 and a 52-week high of $70.98. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 158.14, a PEG ratio of 0.63 and a beta of 0.22. 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, topping the consensus estimate of $0.95 by $0.25. The firm had revenue of $989.71 million during 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 for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities analysts anticipate that BioMarin Pharmaceutical will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA acquired a new position in BioMarin Pharmaceutical in the second quarter valued at approximately $811,962,000. Caisse de depot et placement du Quebec acquired a new stake in BioMarin Pharmaceutical during the 2nd quarter worth $70,749,000. Bank of New York Mellon Corp purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at $66,107,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $39,312,000. Finally, Palo Alto Investors LP purchased a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $39,068,500. Hedge funds and other institutional investors own 98.71% of the company’s stock.

About BioMarin Pharmaceutical

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.