Piper Sandler Increases BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target to $90.00

Key Points

• Piper Sandler raised BioMarin’s price target to $90 from $88 and maintained an “overweight” rating, implying approximately 38.75% upside from the stock’s $64.86 price.
• Analyst sentiment remains favorable overall, with a consensus “Moderate Buy” rating and average target of $89, although ratings range from “Strong Buy” to “Sell.”
• BioMarin reported quarterly EPS of $1.20, beating estimates of $0.95, while revenue rose 20% year over year to $989.71 million; the company also completed its Alesta Therapeutics acquisition and reached a royalty-generating settlement with Ascendis Pharma.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its price objective upped by Piper Sandler from $88.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's price objective would indicate a potential upside of 38.75% from the company's current price.

Other research analysts have also recently issued research reports about the stock. HC Wainwright boosted their price objective on shares of BioMarin Pharmaceutical from $59.00 to $60.00 and gave the stock a "neutral" rating in a research report on Monday. Oppenheimer lifted their target price on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Jefferies Financial Group boosted their target price on BioMarin Pharmaceutical from $104.00 to $105.00 and gave the stock a "buy" rating in a research report on Monday. The Goldman Sachs Group began coverage on BioMarin Pharmaceutical in a research note on Monday, May 11th. They set a "neutral" rating and a $69.00 price target on the stock. Finally, Bank of America cut their target price on shares of BioMarin Pharmaceutical from $85.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, BioMarin Pharmaceutical has an average rating of "Moderate Buy" and a consensus target price of $89.00.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $0.36 during trading on Tuesday, reaching $64.86. The company's stock had a trading volume of 622,088 shares, compared to its average volume of 2,061,387. The stock has a 50-day moving average price of $61.88 and a two-hundred day moving average price of $58.19. The stock has a market capitalization of $12.56 billion, a P/E ratio of 175.28, a price-to-earnings-growth ratio of 0.46 and a beta of 0.24. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $70.98.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $932.03 million. During the same quarter last year, the company posted $1.44 EPS. The company's quarterly 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. As a group, sell-side analysts anticipate that BioMarin Pharmaceutical will post 4.1 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the stock. Primecap Management Co. CA acquired a new position in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $811,962,000. California State Teachers Retirement System raised its position in shares of BioMarin Pharmaceutical by 5,328.0% in the 2nd quarter. California State Teachers Retirement System now owns 11,662,523 shares of the biotechnology company's stock valued at $667,330,000 after acquiring an additional 11,447,664 shares during the period. Norges Bank acquired a new stake in shares of BioMarin Pharmaceutical in the 4th quarter valued at approximately $447,572,000. Vestal Point Capital LP boosted its stake in BioMarin Pharmaceutical by 261.4% during the 4th quarter. Vestal Point Capital LP now owns 3,000,000 shares of the biotechnology company's stock worth $178,290,000 after acquiring an additional 2,170,000 shares during the last quarter. Finally, Viking Global Investors LP boosted its stake in BioMarin Pharmaceutical by 13.8% during the 2nd quarter. Viking Global Investors LP now owns 12,288,611 shares of the biotechnology company's stock worth $675,505,000 after acquiring an additional 1,488,552 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company's stock.

Trending Headlines about BioMarin Pharmaceutical

Here are the key news stories impacting BioMarin Pharmaceutical this week:

• Positive Sentiment: BioMarin completed its acquisition of Dutch biotech Alesta Therapeutics, adding ALE1 to its pipeline. ALE1 is a potential first oral treatment for hypophosphatasia, which could provide a longer-term growth opportunity if clinical development and regulatory approvals succeed. BioMarin Announces Close of the Alesta Therapeutics Acquisition
• Positive Sentiment: BioMarin reached a global settlement with Ascendis Pharma over patent disputes involving Yuviwel. Ascendis will pay BioMarin royalties on Yuviwel sales in the United States, European Union, Brazil and South Korea, creating a potential recurring revenue stream while removing litigation uncertainty. BioMarin Announces Global Settlement with Ascendis Pharma
• Positive Sentiment: Jefferies raised its price target on BMRN to $105 from $104 and maintained a Buy rating, signaling confidence in the company’s earnings and pipeline prospects.
• Neutral Sentiment: Analyst reaction is not uniformly bullish. HC Wainwright lifted its target to $60 from $59 but retained a Neutral rating, suggesting the stock’s valuation and execution risks remain important considerations.
• Neutral Sentiment: The acquisition and settlement are strategically positive, but ALE1 still carries clinical and regulatory risks, and the financial contribution from Yuviwel royalties will depend on future commercial sales.

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.

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.

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