BioMarin Pharmaceutical (NASDAQ:BMRN) Raised to "Strong-Buy" at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded BioMarin to “strong buy,” joining a generally bullish analyst consensus with an average “Moderate Buy” rating and an $88.83 target price.
• BioMarin reported quarterly revenue of $989.7 million, up 20% year over year, and earnings per share of $1.20, exceeding estimates of $0.95.
• The company agreed to acquire Alesta Therapeutics for $275 million upfront, plus up to $215 million in milestones, gaining rights to ALE1, a potential oral treatment for hypophosphatasia; however, the therapy remains in early-stage development.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) was upgraded by equities researchers at BMO Capital Markets to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of BioMarin Pharmaceutical from $111.00 to $114.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Royal Bank Of Canada cut their price objective on shares of BioMarin Pharmaceutical from $66.00 to $62.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 7th. UBS Group restated a "neutral" rating on shares of BioMarin Pharmaceutical in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Morgan Stanley increased their price objective on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Two investment analysts have 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.83.

BioMarin Pharmaceutical Trading Up 3.5%

NASDAQ BMRN opened at $69.33 on Tuesday. 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 firm has a market cap of $13.42 billion, a PE ratio of 187.38, a P/E/G ratio of 0.48 and a beta of 0.24. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $70.98. The firm's fifty day moving average is $60.21 and its two-hundred day moving average is $57.74.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, topping 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 business had revenue of $989.71 million during the quarter, compared to the consensus estimate of $932.03 million. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The business'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. Analysts expect that BioMarin Pharmaceutical will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $811,962,000. Norges Bank acquired a new stake in BioMarin Pharmaceutical during the fourth quarter worth approximately $447,572,000. Vestal Point Capital LP boosted its position in BioMarin Pharmaceutical by 261.4% during the fourth 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. Viking Global Investors LP grew its stake in BioMarin Pharmaceutical by 13.8% in 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 period. Finally, Caisse de depot et placement du Quebec acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at $70,749,000. Institutional investors and hedge funds own 98.71% of the company's stock.

BioMarin Pharmaceutical News Summary

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

• Positive Sentiment: BioMarin agreed to acquire Alesta Therapeutics for $275 million upfront, with up to $215 million in milestone payments. The transaction gives BioMarin rights to ALE1, an oral therapy being developed for hypophosphatasia (HPP), a rare genetic bone disorder. The potential to offer a first oral treatment could address a significant unmet need and expand BioMarin’s presence in rare skeletal diseases. CNBC article
• Positive Sentiment: Investors and analysts see strategic and longer-term growth potential from adding ALE1 to BioMarin’s pipeline. Wedbush said the acquisition strengthens the company’s outlook, while BMO Capital Markets initiated coverage with an Outperform rating and a $98 price target, implying substantial upside from the referenced price. Barclays and Piper Sandler also issued bullish forecasts. Wedbush article
• Neutral Sentiment: The acquisition broadens BioMarin’s rare-disease portfolio, but ALE1 is still in early clinical trials. Its commercial value depends on successful development, regulatory approval and achievement of milestones, making the program a longer-term rather than immediate revenue driver. Alesta will also spin out its other assets before closing. BioMarin announcement
• Negative Sentiment: HC Wainwright lowered its price target from $60 to $59 and maintained a Neutral rating, while another analyst cut its target to $59. These targets suggest some investors believe the stock’s recent rise has outpaced near-term fundamentals and that execution and valuation risks remain. Analyst coverage

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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