BioMarin Pharmaceutical (NASDAQ:BMRN) Receives "Neutral" Rating from HC Wainwright

Key Points

• HC Wainwright reiterated its “Neutral” rating on BioMarin Pharmaceutical and set a $60 price target, implying 6.85% downside from the prior close.
• Analyst sentiment overall remains more positive, with BioMarin receiving a consensus “Moderate Buy” rating and an average price target of $89.17.
• BioMarin exceeded quarterly expectations, reporting $1.20 earnings per share versus a $0.95 consensus estimate and $989.71 million in revenue, up 20% year over year; institutional investors own 98.71% of the stock.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report)'s stock had its "neutral" rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $60.00 price target on the biotechnology company's stock. HC Wainwright's price target would indicate a potential downside of 6.85% from the company's previous close.

A number of other analysts have also recently commented on the company. BMO Capital Markets initiated coverage on BioMarin Pharmaceutical in a research report on Wednesday, August 19th. They set an "outperform" rating and a $98.00 price objective for the company. UBS Group set a $88.00 price objective on shares of BioMarin Pharmaceutical in a report on Wednesday, August 26th. Royal Bank Of Canada reduced their target price on BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a report on Tuesday, July 7th. Piper Sandler lifted their price target on shares of BioMarin Pharmaceutical from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Tuesday, September 1st. Finally, Wall Street Zen raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average target price of $89.17.

BioMarin Pharmaceutical Price Performance

BMRN stock opened at $64.41 on Thursday. BioMarin Pharmaceutical has a 1 year low of $49.26 and a 1 year high of $70.98. 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's 50 day moving average price is $63.03 and its 200 day moving average price is $58.44. The firm has a market cap of $12.47 billion, a P/E ratio of 174.08, a PEG 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 earnings per share for the quarter, topping the consensus estimate 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 last year, the business posted $1.44 earnings per share. BioMarin Pharmaceutical's revenue 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, sell-side analysts expect that BioMarin Pharmaceutical will post 4.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in shares of BioMarin Pharmaceutical by 11.5% during the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company's stock valued at $266,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC lifted its holdings in BioMarin Pharmaceutical by 207.4% in the 1st quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company's stock valued at $850,000 after acquiring an additional 8,112 shares during the last quarter. Focus Partners Wealth lifted its stake in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company's stock valued at $835,000 after purchasing an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of BioMarin Pharmaceutical by 33.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company's stock valued at $244,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of BioMarin Pharmaceutical by 23.5% in the 2nd quarter. Invesco Ltd. now owns 618,835 shares of the biotechnology company's stock valued at $34,017,000 after purchasing an additional 117,617 shares during the period. Institutional investors own 98.71% of the company's stock.

About BioMarin Pharmaceutical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.