BioMarin Pharmaceutical’s (BMRN) Overweight Rating Reiterated at Cantor Fitzgerald

BioMarin Pharmaceutical (NASDAQ:BMRN)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They presently have a $86.00 target price on the biotechnology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 54.82% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group raised their price objective on BioMarin Pharmaceutical from $104.00 to $105.00 and gave the company a “buy” rating in a research report on Monday, August 31st. William Blair raised BioMarin Pharmaceutical to a “hold” rating in a research report on Wednesday, September 23rd. UBS Group assumed coverage on BioMarin Pharmaceutical in a research report on Thursday, October 15th. They set a “buy” rating and a $88.00 price objective on the stock. Barclays raised their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, October 14th. Finally, Weiss Ratings downgraded BioMarin Pharmaceutical from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 18th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical has a consensus rating of “Moderate Buy” and an average price target of $88.75.

BioMarin Pharmaceutical Stock Up 1.6%

BMRN stock traded up $0.88 during trading on Tuesday, reaching $55.55. 250,862 shares of the company traded hands, compared to its average volume of 2,084,152. BioMarin Pharmaceutical has a 12 month low of $49.26 and a 12 month high of $70.98. The business has a 50 day simple moving average of $62.73 and a 200 day simple moving average of $58.67. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 150.06, a price-to-earnings-growth ratio of 0.38 and a beta of 0.22. 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 (NASDAQ:BMRN) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share 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 for the quarter, compared to the consensus estimate of $932.03 million. During the same quarter last year, the company earned $1.44 earnings per share. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, equities research analysts anticipate that BioMarin Pharmaceutical will post 4.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA acquired a new stake in BioMarin Pharmaceutical in the second quarter worth about $811,962,000. Dimensional Fund Advisors LP boosted its holdings in BioMarin Pharmaceutical by 14.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,802,930 shares of the biotechnology company’s stock worth $214,804,000 after acquiring an additional 481,176 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in BioMarin Pharmaceutical by 35.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,920,658 shares of the biotechnology company’s stock worth $108,498,000 after acquiring an additional 501,591 shares in the last quarter. First Trust Advisors LP raised its stake in shares of BioMarin Pharmaceutical by 43.3% in the first quarter. First Trust Advisors LP now owns 1,672,491 shares of the biotechnology company’s stock worth $94,479,000 after purchasing an additional 505,692 shares during the last quarter. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of BioMarin Pharmaceutical in the second quarter worth about $70,749,000. Institutional investors and hedge funds 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.