BioMarin Pharmaceutical (NASDAQ:BMRN) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• BioMarin shares rose above their 200-day moving average, reaching $59.37 and closing at $58.51, compared with the 200-day average of $58.44.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $88.38, although some firms recently downgraded the stock or lowered targets.
• The company’s latest quarterly results exceeded expectations: adjusted EPS was $1.20 versus a $0.95 estimate, while revenue reached $989.71 million, up 20% year over year. Institutional investors own approximately 98.71% of outstanding shares.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $58.44 and traded as high as $59.37. BioMarin Pharmaceutical shares last traded at $58.51, with a volume of 2,273,689 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BMRN shares. Wall Street Zen cut BioMarin Pharmaceutical from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley reduced their target price on BioMarin Pharmaceutical from $124.00 to $122.00 and set an "overweight" rating on the stock in a report on Wednesday, October 21st. Weiss Ratings downgraded shares of BioMarin Pharmaceutical from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, September 18th. JPMorgan Chase & Co. raised their price target on shares of BioMarin Pharmaceutical from $86.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, October 20th. Finally, HC Wainwright restated a "neutral" rating and issued a $60.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday, September 10th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.38.

BioMarin Pharmaceutical Price Performance

The stock has a market cap of $11.33 billion, a P/E ratio of 158.14, a P/E/G ratio of 0.63 and a beta of 0.22. The business has a 50 day simple moving average of $60.62 and a 200-day simple moving average of $58.44. 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 (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.25. The firm had revenue of $989.71 million for the quarter, compared to the consensus estimate of $932.03 million. BioMarin Pharmaceutical had a net margin of 2.14% and a return on equity of 5.32%. The company's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior 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, sell-side analysts forecast that BioMarin Pharmaceutical Inc. will post 2.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of BioMarin Pharmaceutical by 0.5% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 40,117 shares of the biotechnology company's stock worth $2,407,000 after purchasing an additional 200 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of BioMarin Pharmaceutical in the third quarter worth about $186,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of BioMarin Pharmaceutical during the third quarter worth about $705,000. Profund Advisors LLC increased its position in shares of BioMarin Pharmaceutical by 34.3% in the third quarter. Profund Advisors LLC now owns 37,548 shares of the biotechnology company's stock valued at $2,253,000 after acquiring an additional 9,582 shares during the last quarter. Finally, Vise Technologies Inc. grew its stake in BioMarin Pharmaceutical by 125.1% in the third quarter. Vise Technologies Inc. now owns 12,096 shares of the biotechnology company's stock valued at $726,000 after purchasing an additional 6,722 shares in the last quarter. Institutional investors own 98.71% of the company's stock.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc is a biotechnology company focused on developing and commercializing therapies for serious and life-threatening rare diseases. The company's research and development efforts center on genetic and metabolic disorders, where patient populations are often small and treatment options are limited.

BioMarin's marketed products include Voxzogo (vosoritide) for children with achondroplasia and open growth plates, Palynziq (pegvaliase) and Kuvan (sapropterin dihydrochloride) for phenylketonuria, Brineura (cerliponase alfa) for late-infantile neuronal ceroid lipofuscinosis type 2, Vimizim (elosulfase alfa) for Morquio A syndrome, and Naglazyme (galsulfase) for mucopolysaccharidosis VI.

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