BioMarin Pharmaceutical’s (BMRN) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of BioMarin Pharmaceutical (NASDAQ:BMRN) in a report published on Thursday morning,Benzinga reports. They currently have a $60.00 target price on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the company. Barclays boosted their price objective on BioMarin Pharmaceutical from $105.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Oppenheimer increased their price target on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. UBS Group set a $88.00 price target on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 26th. Citigroup lifted 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, Bank of America decreased their price objective on BioMarin Pharmaceutical from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.17.

BioMarin Pharmaceutical Price Performance

Shares of NASDAQ BMRN opened at $65.68 on Thursday. The firm has a 50-day simple moving average of $63.30 and a 200-day simple moving average of $58.50. 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 stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 177.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. The company had revenue of $989.71 million during the quarter, compared to analysts’ expectations 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 was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities analysts predict that BioMarin Pharmaceutical will post 4.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust boosted 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 worth $26,000 after purchasing an additional 187 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $39,000. CIBC Private Wealth Group LLC raised its position in 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 purchasing an additional 179 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in BioMarin Pharmaceutical during the third quarter worth $40,000. Finally, Parallel Advisors LLC lifted its stake 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 purchasing an additional 295 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for rare and serious diseases. Founded in 1997 and headquartered in San Rafael, California, the company specializes in treatments for conditions that often have limited or no available therapeutic options, including inherited metabolic disorders, skeletal diseases, and certain bleeding disorders.

BioMarin’s marketed products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for late-infantile neuronal ceroid lipofuscinosis type 2, Palynziq and Kuvan for phenylketonuria, and Voxzogo for achondroplasia in children with open growth plates.