BioMarin Pharmaceutical (NASDAQ:BMRN) Reaches New 52-Week High on Analyst Upgrade

Key Points

• BioMarin shares hit a new 52-week high, rising to $66.94 after Canaccord Genuity increased its price target from $111 to $114 and maintained a buy rating.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $88, although targets and ratings vary across firms.
• BioMarin’s latest quarterly results exceeded expectations, with adjusted EPS of $1.20 versus a $0.95 estimate and revenue of $989.71 million, up 20% year over year.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report)'s share price reached a new 52-week high during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $111.00 to $114.00. Canaccord Genuity Group currently has a buy rating on the stock. BioMarin Pharmaceutical traded as high as $66.94 and last traded at $66.8230, with a volume of 1100389 shares. The stock had previously closed at $63.81.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein decreased their price objective on shares of BioMarin Pharmaceutical from $94.00 to $82.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Weiss Ratings raised shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, June 26th. The Goldman Sachs Group assumed coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a "neutral" rating and a $69.00 target price for the company. Oppenheimer increased their price target on BioMarin Pharmaceutical from $95.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Morgan Stanley upped their target price on BioMarin Pharmaceutical from $119.00 to $124.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, BioMarin Pharmaceutical presently has an average rating of "Moderate Buy" and an average target price of $88.00.

Institutional Trading of BioMarin Pharmaceutical

Several large investors have recently made changes to their positions in BMRN. NewEdge Advisors LLC grew its holdings in shares of BioMarin Pharmaceutical by 11.5% during the first quarter. NewEdge Advisors LLC now owns 3,769 shares of the biotechnology company's stock worth $266,000 after buying an additional 388 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of BioMarin Pharmaceutical by 207.4% in the first quarter. Empowered Funds LLC now owns 12,023 shares of the biotechnology company's stock worth $850,000 after buying an additional 8,112 shares in the last quarter. Focus Partners Wealth boosted its position in BioMarin Pharmaceutical by 70.2% during the first quarter. Focus Partners Wealth now owns 11,817 shares of the biotechnology company's stock worth $835,000 after acquiring an additional 4,876 shares during the last quarter. Sivia Capital Partners LLC boosted its position in BioMarin Pharmaceutical by 33.0% during the second quarter. Sivia Capital Partners LLC now owns 4,439 shares of the biotechnology company's stock worth $244,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Invesco Ltd. grew its stake in 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 acquiring an additional 117,617 shares in the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

BioMarin Pharmaceutical Stock Performance

The company has a market cap of $12.94 billion, a PE ratio of 181.13, a PEG ratio of 0.49 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 firm's 50 day moving average is $58.19 and its 200-day moving average is $57.08.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued 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 return on equity of 5.32% and a net margin of 2.14%.The business had revenue of $989.71 million for the quarter, compared to analysts' expectations of $932.03 million. During the same period in the previous year, the firm posted $1.44 EPS. The business's revenue for the quarter 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. On average, research analysts anticipate that BioMarin Pharmaceutical Inc. will post 4.22 earnings per share for the current fiscal year.

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.

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