BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised BioMarin Pharmaceutical’s price target to $114 from $111 and maintained an “overweight” rating, implying 107.26% potential upside from the previous close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $88.87; 16 analysts rate the stock Strong Buy or Buy.
• BioMarin exceeded quarterly expectations, reporting $1.20 in earnings per share versus a $0.95 consensus estimate and $989.71 million in revenue, up 20% year over year.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its target price upped by Barclays from $111.00 to $114.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the biotechnology company's stock. Barclays's price objective indicates a potential upside of 107.26% from the stock's previous close.

A number of other research analysts also recently issued reports on BMRN. Citigroup raised their price target on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Jefferies Financial Group lifted their price target on shares of BioMarin Pharmaceutical from $104.00 to $105.00 and gave the company a "buy" rating in a report on Monday, August 31st. UBS Group set a $88.00 price objective on shares of BioMarin Pharmaceutical in a research report on Wednesday, August 26th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Oppenheimer increased their price objective on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BioMarin Pharmaceutical currently has a consensus rating of "Moderate Buy" and an average price target of $88.87.

BioMarin Pharmaceutical Stock Performance

Shares of BMRN opened at $55.00 on Wednesday. The business's fifty day moving average price is $63.40 and its 200 day moving average price is $58.67. BioMarin Pharmaceutical has a 12-month low of $49.26 and a 12-month high of $70.98. The stock has a market capitalization of $10.65 billion, a PE ratio of 148.63, 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 current ratio of 2.39 and a quick ratio of 1.32.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.25. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The firm had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the previous year, the company posted $1.44 earnings per share. The firm's revenue was up 20.0% on a year-over-year basis. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. Equities research analysts forecast that BioMarin Pharmaceutical will post 4.10 EPS for the current year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several large investors have recently added to or reduced their stakes in BMRN. Amundi boosted its holdings in shares of BioMarin Pharmaceutical by 37.8% in the second quarter. Amundi now owns 259,782 shares of the biotechnology company's stock valued at $14,865,000 after acquiring an additional 71,246 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $14,203,000. Bank of New York Mellon Corp bought a new stake in BioMarin Pharmaceutical during the second quarter worth approximately $66,107,000. Public Employees Retirement System of Ohio acquired a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $3,461,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in BioMarin Pharmaceutical in the second quarter worth approximately $39,312,000. 98.71% of the stock is owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc is a biotechnology company that develops and commercializes therapies for rare and serious genetic diseases. The company focuses on conditions with limited treatment options, using approaches that include enzyme replacement therapy, small-molecule medicines, biologics and gene therapy.

Its products include Vimizim for mucopolysaccharidosis type IV A, Naglazyme for mucopolysaccharidosis type VI, Brineura for CLN2 disease, Palynziq and Kuvan for phenylketonuria, and Voxzogo for children with achondroplasia and open growth plates.

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