BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price Target Raised at JPMorgan Chase & Co.

Key Points

• JPMorgan raised BioMarin’s price target from $86 to $87 and maintained an “overweight” rating, implying 55.77% upside from the prior close.
• Analyst sentiment remains positive overall, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $88.68; other targets range as high as $114.
• BioMarin shares traded up 2.2% to $55.85, while the company’s latest quarterly results exceeded expectations with $1.20 in EPS and $989.71 million in revenue.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its price target boosted by JPMorgan Chase & Co. from $86.00 to $87.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 55.77% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $86.00 target price on shares of BioMarin Pharmaceutical in a research report on Tuesday. UBS Group began coverage on shares of BioMarin Pharmaceutical in a research report on Thursday, October 15th. They set a "buy" rating and a $88.00 price target on the stock. 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 research report on Monday, August 31st. Canaccord Genuity Group boosted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of BioMarin Pharmaceutical in a research report on Wednesday, September 16th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.68.

BioMarin Pharmaceutical Trading Up 2.2%

NASDAQ:BMRN traded up $1.18 on Tuesday, hitting $55.85. 478,293 shares of the stock were exchanged, compared to its average volume of 2,085,081. The stock has a market cap of $10.81 billion, a PE ratio of 151.04, a PEG ratio of 0.38 and a beta of 0.22. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $62.73 and a 200-day moving average of $58.67. BioMarin Pharmaceutical has a fifty-two week low of $49.26 and a fifty-two week high of $70.98.

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. The company had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%. The company's quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities analysts expect that BioMarin Pharmaceutical will post 4.10 earnings per share for the current fiscal year.

Institutional Trading of BioMarin Pharmaceutical

A number of hedge funds and other institutional investors have recently made changes to their positions in BMRN. Parkside Financial Bank & Trust grew its holdings in 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 acquiring an additional 187 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $39,000. Keating Financial Advisory Services Inc. bought a new position in shares of BioMarin Pharmaceutical during the second quarter worth about $56,000. Parallel Advisors LLC grew its stake in BioMarin Pharmaceutical by 33.9% in the first quarter. Parallel Advisors LLC now owns 1,768 shares of the biotechnology company's stock worth $100,000 after purchasing an additional 448 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in BioMarin Pharmaceutical in the second quarter valued at about $115,000. Institutional investors 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.

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