Barclays Forecasts Strong Price Appreciation for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock

Key Points

• Barclays raised BioMarin Pharmaceutical’s price target from $105 to $111 and maintained an “overweight” rating, implying 65.76% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $88.27; targets from other firms range from $60 to $114.
• BioMarin exceeded quarterly expectations, reporting $1.20 in earnings per share versus a $0.95 estimate and $989.71 million in revenue, up 20% year over year.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its target price boosted by stock analysts at Barclays from $105.00 to $111.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Barclays's target price points to a potential upside of 65.76% from the company's previous close.

A number of other research firms also recently weighed in on BMRN. Royal Bank Of Canada reduced their target price on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 7th. HC Wainwright lifted their price target on shares of BioMarin Pharmaceutical from $50.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Sanford C. Bernstein dropped their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Canaccord Genuity Group upped their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BioMarin Pharmaceutical has a consensus rating of "Moderate Buy" and an average price target of $88.27.

BioMarin Pharmaceutical Stock Down 0.6%

Shares of NASDAQ:BMRN opened at $66.97 on Monday. The firm has a market capitalization of $12.96 billion, a P/E ratio of 180.68, a P/E/G ratio of 0.47 and a beta of 0.24. 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 has a 50 day moving average price of $59.56 and a 200-day moving average price of $57.51. BioMarin Pharmaceutical has a 52-week low of $49.26 and a 52-week high of $70.98.

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, beating the consensus estimate of $0.95 by $0.25. The company had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a return on equity of 5.32% and a net margin of 2.14%.The firm's revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. As a group, equities research analysts anticipate that BioMarin Pharmaceutical will post 4.22 EPS for the current fiscal year.

Hedge Funds Weigh In On BioMarin Pharmaceutical

A number of institutional investors and hedge funds have recently made changes to their positions in BMRN. Activest Wealth Management purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter worth $26,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BioMarin Pharmaceutical in the second quarter worth about $39,000. CIBC Private Wealth Group LLC increased its holdings in BioMarin Pharmaceutical by 38.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 648 shares of the biotechnology company's stock worth $39,000 after acquiring an additional 179 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of BioMarin Pharmaceutical in the third quarter worth $40,000. Finally, Parallel Advisors LLC boosted its holdings in BioMarin Pharmaceutical by 62.2% in the 3rd quarter. Parallel Advisors LLC now owns 769 shares of the biotechnology company's stock worth $42,000 after buying an additional 295 shares during the period. Hedge funds and other 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.

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