HC Wainwright Has Lowered Expectations for BioMarin Pharmaceutical (NASDAQ:BMRN) Stock Price

Key Points

• HC Wainwright lowered BioMarin’s price target from $60 to $59 and maintained a neutral rating, implying 13.49% downside from the stock’s $68.20 price.
• Analyst sentiment remains more positive overall, with a consensus “Moderate Buy” rating and an average price target of $88.41, despite mixed individual ratings.
• BioMarin exceeded quarterly expectations, reporting $1.20 in earnings per share versus $0.95 forecast and revenue of $989.71 million, up 20% year over year; institutional investors own 98.71% of the stock.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) had its target price lowered by stock analysts at HC Wainwright from $60.00 to $59.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the biotechnology company's stock. HC Wainwright's price target points to a potential downside of 13.49% from the company's current price.

A number of other research firms also recently weighed in on BMRN. Wall Street Zen upgraded BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. UBS Group reissued a "neutral" rating on shares of BioMarin Pharmaceutical in a report on Tuesday, July 14th. Oppenheimer raised their target price on shares of BioMarin Pharmaceutical from $95.00 to $97.00 and gave the company an "outperform" rating in a research note on Friday, August 7th. Citigroup boosted their target price on shares of BioMarin Pharmaceutical from $75.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Finally, The Goldman Sachs Group started coverage on shares of BioMarin Pharmaceutical in a research report on Monday, May 11th. They set a "neutral" rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.41.

BioMarin Pharmaceutical Stock Up 2.3%

NASDAQ BMRN traded up $1.56 during trading hours on Tuesday, reaching $68.20. 184,093 shares of the company's stock were exchanged, compared to its average volume of 2,082,153. The company's 50-day moving average is $59.76 and its two-hundred day moving average is $57.58. BioMarin Pharmaceutical has a one year low of $49.26 and a one year high of $70.98. 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 company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 184.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.24.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.25. The firm had revenue of $989.71 million for the quarter, compared to analyst estimates of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The business's revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 earnings per share. BioMarin Pharmaceutical has set its FY 2026 guidance at 4.900-5.100 EPS. On average, analysts forecast that BioMarin Pharmaceutical will post 4.22 EPS for the current fiscal year.

Institutional Investors Weigh In On BioMarin Pharmaceutical

Several hedge funds have recently added to or reduced their stakes in the business. Palo Alto Investors LP acquired a new position in shares of BioMarin Pharmaceutical in the second quarter valued at $39,068,500,000. Empowered Funds LLC acquired a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $2,247,000. Public Employees Retirement System of Ohio bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $3,461,000. Corient Private Wealth LP bought a new stake in shares of BioMarin Pharmaceutical during the 2nd quarter worth about $235,000. Finally, Boone Capital Management LLC acquired a new position in BioMarin Pharmaceutical in the 2nd quarter valued at about $33,372,000. Institutional investors and hedge funds own 98.71% of the company's stock.

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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