BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Crosses Above 200 Day Moving Average – Here’s Why

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)’s stock price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $58.44 and traded as high as $59.37. BioMarin Pharmaceutical shares last traded at $58.51, with a volume of 2,273,689 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of BioMarin Pharmaceutical from $124.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Raymond James Financial upgraded BioMarin Pharmaceutical from an “outperform” rating to a “strong-buy” rating and set a $109.00 price target on the stock in a research report on Monday, October 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $86.00 price target on shares of BioMarin Pharmaceutical in a research note on Tuesday, October 20th. Royal Bank Of Canada lowered their price objective on BioMarin Pharmaceutical from $66.00 to $62.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Finally, UBS Group started coverage on shares of BioMarin Pharmaceutical in a report on Thursday, October 15th. They issued a “buy” rating and a $88.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.38.

BioMarin Pharmaceutical Trading Up 1.8%

The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. The stock has a market capitalization of $11.33 billion, a P/E ratio of 158.14, a price-to-earnings-growth ratio of 0.64 and a beta of 0.22. The stock has a 50-day moving average price of $60.62 and a two-hundred day moving average price of $58.44.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%. The company had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the prior year, the company earned $1.44 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, research analysts forecast that BioMarin Pharmaceutical Inc. will post 2.59 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in shares of BioMarin Pharmaceutical by 70.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 453 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 187 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth approximately $39,000. Keating Financial Advisory Services Inc. purchased a new position in shares of BioMarin Pharmaceutical in the 2nd quarter worth $56,000. Root Financial Partners LLC purchased a new position in BioMarin Pharmaceutical in the third quarter worth about $88,000. Finally, Parallel Advisors LLC boosted its holdings in shares of BioMarin Pharmaceutical by 33.9% in the 1st quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 448 shares during the period. 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.