BioMarin Pharmaceutical (NASDAQ:BMRN) Given New $60.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised BioMarin’s price target from $59 to $60 while maintaining a “neutral” rating, implying approximately 8.5% downside from the prior close.
• Analyst sentiment is more bullish overall: BioMarin has a consensus “Moderate Buy” rating and an average price target of $88.83, well above HC Wainwright’s estimate.
• BioMarin recently exceeded quarterly expectations, reporting $1.20 in EPS versus the $0.95 consensus and revenue of $989.71 million, up 20% year over year.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its price target lifted by research analysts at HC Wainwright from $59.00 to $60.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the biotechnology company's stock. HC Wainwright's price objective suggests a potential downside of 8.47% from the company's previous close.

Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group boosted their price target on BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research note on Monday, August 10th. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a report on Wednesday, August 19th. They issued an "outperform" rating and a $98.00 price objective for the company. Piper Sandler upped their target price on BioMarin Pharmaceutical from $82.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday, August 17th. The Goldman Sachs Group started coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They set a "neutral" rating and a $69.00 target price on the stock. Finally, Wall Street Zen upgraded BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.83.

BioMarin Pharmaceutical Stock Performance

Shares of BioMarin Pharmaceutical stock traded up $0.88 during trading on Monday, reaching $65.55. The company's stock had a trading volume of 636,773 shares, compared to its average volume of 2,060,305. 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 business's 50-day moving average price is $61.70 and its 200-day moving average price is $58.15. BioMarin Pharmaceutical has a 52 week low of $49.26 and a 52 week high of $70.98. The firm has a market cap of $12.69 billion, a PE ratio of 177.16, a P/E/G ratio of 0.46 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.25. The business had revenue of $989.71 million for the quarter, compared to analyst estimates 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 for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the firm earned $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities analysts forecast that BioMarin Pharmaceutical will post 4.1 earnings per share for the current year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors have recently modified their holdings of the business. Corient Private Wealth LP grew its position in BioMarin Pharmaceutical by 485.0% in the second quarter. Corient Private Wealth LP now owns 35,525 shares of the biotechnology company's stock valued at $2,033,000 after acquiring an additional 29,452 shares during the last quarter. Amundi lifted 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 purchasing an additional 71,246 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in BioMarin Pharmaceutical in the second quarter valued at approximately $5,111,000. California State Teachers Retirement System increased its holdings in shares of BioMarin Pharmaceutical by 5,328.0% during the second quarter. California State Teachers Retirement System now owns 11,662,523 shares of the biotechnology company's stock worth $667,330,000 after buying an additional 11,447,664 shares in the last quarter. Finally, AlphaGrep UK Ltd bought a new position in shares of BioMarin Pharmaceutical in the 2nd quarter valued at $335,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biopharmaceutical company specializing in the development and commercialization of therapies for rare genetic and metabolic diseases. The company focuses on addressing unmet medical needs by leveraging enzyme replacement therapy, small molecule pharmacological chaperones and gene therapy technologies. Headquartered in Novato, California, BioMarin operates research and development facilities in the United States and Europe.

The company's commercial portfolio includes several approved therapies targeting inherited disorders.

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