BioMarin Pharmaceutical (NASDAQ:BMRN) Price Target Raised to $114.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised BioMarin’s price target to $114 from $111 and maintained a “buy” rating, implying 78.66% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $88.00; 15 analysts rate the stock a Buy.
• BioMarin exceeded quarterly expectations, reporting $1.20 in EPS versus $0.95 expected and $989.71 million in revenue, up 20% year over year.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its price target lifted by equities research analysts at Canaccord Genuity Group from $111.00 to $114.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 78.66% from the company's previous close.

BMRN has been the topic of several other research reports. Citigroup upped their price target on BioMarin Pharmaceutical from $75.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, July 16th. UBS Group restated a "neutral" rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Wall Street Zen raised BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group assumed coverage on BioMarin Pharmaceutical in a report on Monday, May 11th. They set a "neutral" rating and a $69.00 target price for the company. Finally, Oppenheimer increased their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

BioMarin Pharmaceutical Price Performance

BioMarin Pharmaceutical stock opened at $63.81 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.39. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $66.28. The company has a 50-day simple moving average of $58.19 and a 200-day simple moving average of $57.08. The firm has a market capitalization of $12.35 billion, a P/E ratio of 172.46, a P/E/G ratio of 0.49 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $932.03 million. During the same period last year, the firm posted $1.44 EPS. BioMarin Pharmaceutical'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, equities analysts expect that BioMarin Pharmaceutical will post 4.22 earnings per share for the current year.

Institutional Inflows and Outflows

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